Around $1.8 billion of stimulus money went unclaimed in US despite calls from struggling families for fourth payment
ALMOST $2billion of stimulus money went unclaimed in the US as cash-strapped American families call for the White House to introduce another round of payments.
Households have received three rounds of checks since the start of the pandemic but another stimulus payment seems unlikely as Joe Biden appears reluctant.
Americans failed to cash more than 1.3million first-round checks that were issued under the Trump presidency, a KDVR investigation revealed.
This equates to $1.77billion worth of unclaimed stimulus payments.
California had the most unclaimed checks with 130,243 while Florida and Texas followed with 96,342 and 96,918.
Residents in California, Florida, Texas, New York, and Pennsylvania failed to cash in over $650million in stimulus payments.
The revelations come as many Americans are still struggling with financial hardship due to the Covid-19 pandemic.
Four in ten Americans say their income remains below pre-pandemic levels, according to a survey conducted by TransUnion.
There are growing calls among the American public for extra payments to be introduced.
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A Change.org petition that is pushing for monthly recurring checks worth up to $2,000 has reached more than 2.5million signatures.
Colorado restaurant owner Stephanie Bonin set a target of three million signatures.
The petition asks Congress to provide payments of $2,000 per adult and $1,000 per child.
It says that the payments are needed on a recurring basis as American families are still struggling to pay rent and put food on the table.
The petition notes that some families are "deeply struggling" without more stimulus funds.
Households have received three rounds of stimulus payments since the start of the pandemic but Biden has yet to commit to another round.
The number of “long-term unemployed” Americans rose by 233,000 to four million in June after declining by more than 430,000 in May, AS reports.
This refers to those who have been without a job for at least 27 weeks.
'GIVE AMERICANS CERTAINTY'
The unemployment rate stands at 5.9 percent as 850,000 jobs were added to the economy in June. It was basically unchanged.
A fourth stimulus check has not been proposed by Joe Biden but the door has not been slammed completely shut.
But, Democratic lawmakers have called for extra payments to be introduced so the burden on cash-strapped Americans can be eased.
In a letter sent to Biden in recent months, seven Democrats from the House Ways and Means Committee expressed their support for another round of stimulus checks.
The lawmakers wrote: "The pandemic has served as a stark reminder that families and workers need certainty in a crisis.
"They deserve to know they can put food on the table and keep a roof over their heads. They should not be at the mercy of constantly shifting legislative timelines and ad hoc solutions."
Over 20 Democratic senators sent a letter in March, calling on Biden to enact recurring payments.
But despite the pleas for extra cash, economists appear to be unconvinced.
Ed Mills, of Raymond James, told CNBC: "I think it's unlikely at this time."
And economist Yeva Nersisyan told CBS that the White House should look at how the economy is performing before introducing another round of payments.
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