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Now that the dust is starting to settle on the last stimulus package and many Americans are receiving stimulus checks, it’s time to start shifting focus to the next potential stimulus package.
We are already starting to hear about the next stimulus package that will make its way through Congress.
Reportedly, President Biden will be proposing a huge $3 trillion economic stimulus package in the next few months.
(It will likely be broken up into different bills but the overall price tag would be in that range.)
What exactly will this package entail?
We are not clear on the specifics just yet.
One major item that has gotten some attention is free community college, something that Biden showed support for during his 2020 presidential campaign.
It’s not clear if this free tuition would be based on income or some other criteria (such as occupation/trades) or just universally available.
Some are wondering if student loan forgiveness will be in the mix as well but that much is not clear. (Biden previously asked his Justice Department to review the legality of cancelling student debt through executive action.)
Other measures expected to be proposed include infrastructure improvements and a focus on green energy.
Universal Pre-K and paid sick and family leave are also on the table.
Of course, a lot of people will also be waiting to see if a fourth stimulus check is sent out.
Whether or not another check is issued will likely depend on things like the unemployment rate and the many surveys going out to measure the state of the economy such as those that measure loss of income.
It would not surprise me to see another check go out but I think it is highly likely that the fourth check will be even more targeted then the third, especially if the amount is not cut down significantly.
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Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.