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Will You Get $15k Stimulus Check? No, This Is Another Coronavirus Stimulus Check Rumor

Since the approval of the third stimulus check in March this year, rumors and reports related to fourth stimulus checks have been making the rounds. Since last week, one more...

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This story originally appeared on ValueWalk

Since the approval of the third stimulus check in March this year, rumors and reports related to fourth stimulus checks have been making the rounds. Since last week, one more report of a fourth stimulus check is going viral on social media and the internet. However, this report turns out to be yet another coronavirus stimulus check rumor.

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Another Coronavirus Stimulus Check Rumor?

Recently, a claim was made by a YouTube channel that a new deal is passed and as a result, Americans would get stimulus checks up to $15,000. In reality, however, no such deal is made and the claim of $15,000 stimulus check is a rumor.

The source of this coronavirus stimulus check rumor is reportedly a YouTube channel, which has more than 400,000 subscribers. This YouTube channel, LALate, made the claim of a fourth stimulus check without any evidence.

Following the claim from the YouTube channel, a sudden increase in searches for a fourth check was seen. As per the Google Search trends, the term “4th stimulus checks passed today” picked up after the release of the YouTube video.

As of now, there is no proof or hint that Congress plans to send more stimulus checks. Some states, however, have come up with their own stimulus checks to help residents still struggling financially due to the coronavirus pandemic.

For instance, California has given stimulus checks to its residents under the Golden State Stimulus program. Many local authorities are also experimenting with universal basic income programs.

Los Angeles, for instance, is accepting applications for its Basic Income Guaranteed program, called BIG:LEAP. About 3,000 people living in poverty will be selected under the program and they will get $1,000 a month for one year.

Chicago also has a similar program to give about 5,000 eligible households $500 a month for a year. Chicago’s plan would select the people randomly, but people need to live in Chicago and make less than $35,000 annually to be even considered for the payment.

Will There Be More Stimulus Checks?

The federal government, meanwhile, continues to send the child tax credit. Even the monthly child tax credit would end after the IRS sends two more monthly installments for November and December. Talks, however, are going to extend the current child tax credit program for at least a year more.

Congress has approved three stimulus checks since the start of the pandemic last year. Two stimulus checks, of up to $1,200 and $600, came under President Trump, while the third one, of up to $1,400, was signed into law earlier this year by President Biden.

It is highly unlikely that Congress will approve more stimulus checks. President Biden isn’t talking about stimulus checks either. Biden’s focus is currently on getting approved the big social spending bill, as well as moving forward with the Build Back Better agenda.