• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Exclusive

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

Financestimulus

4 things to know about stimulus checks in 2022 and beyond

By
Lance Lambert
Lance Lambert
Former Real Estate Editor
Down Arrow Button Icon
By
Lance Lambert
Lance Lambert
Former Real Estate Editor
Down Arrow Button Icon
October 18, 2021, 5:27 PM ET

There was nothing normal about the COVID-19 recession. The onset of the pandemic, coupled with state-issued lockdowns, put the economy into its sharpest contraction in U.S. history. In a matter of two months, more than 22 million workers lost their jobs.

In response to the unprecedented nature of the crisis, lawmakers turned to new forms of economic aid. That included everything from generous enhanced unemployment benefits to forgivable small-business loans (through the program known as PPP). But none was more popular than stimulus checks. The first round of $1,200 checks was issued through the $2.2 trillion CARES Act, which passed in March 2020; as a result of both economic need and political popularity, it would be followed by checks issued in December 2020 and March 2021 of $600 and $1,400, respectively. (In each round, some higher-income individuals got smaller checks, or no checks at all.)

The wind-down of the coronavirus crisis should be the end of the road for stimulus checks in America, right? Well, not necessarily. While a fourth nationwide stimulus check is not in the works, it doesn’t mean stimulus programs are one for the history books. Here are four things to know about the future of stimulus checks in 2022 and beyond.

1. Don’t expect Congress to pass a fourth COVID-19 stimulus check

While some progressive activists are pushing for another check, neither Democratic nor Republican leadership is on board with another direct payment. The same goes for President Biden: When asked about it earlier this year, White House press secretary Jen Psaki told reporters that a fourth check wasn’t on the administration’s to-do list, and noted the checks “were not free.” She’s right: Stimulus checks don’t come cheap. The last round of $1,400 checks cost the federal government around $400 billion. For comparison, the combined GDP of North Dakota, Rhode Island, South Dakota, Montana, Alaska, Wyoming, and Vermont is just above $350 billion.

Secondly, the economy is doing much better now. Since May 2020, the economy has added 17.4 million jobs. The September unemployment rate of 4.8% is slightly below the 5% figure that economists have historically considered “full employment.” And it’s a far cry from the 14.8% rate hit in April 2020.

Simply put, the odds of Congress passing a fourth stimulus check are close to zero.

2. Some Americans could get a $1,400 stimulus check in 2022

The $1.9 trillion aid package signed into law this March by Biden sent most American households a third stimulus check. But some households are owed another check of up to $1,400: Reporting by Insider and Fortune discovered earlier this year that a stimulus check would indeed go out to eligible parents of 2021 newborns once they file their tax returns next year.

See, those $1,400 checks were sent out based on the last tax return on file—so they didn’t include 2021 newborns. That’s why the check will get applied to parents’ and guardians’ 2021 tax returns. Of course, taxpayers would still need to meet the income requirements. You can find those eligibility details at this link.

3. More stimulus checks are likely—just not until the next recession

It took no time for Americans to get on board with stimulus checks. Back in March 2020, a Fortune-SurveyMonkey poll found that 89% of Democrats and 85% of Republicans supported a one-time direct payment. Its popularity didn’t stop there: Democrats arguably used the promise of a $2,000 stimulus check to win the two Georgia Senate runoff races in January. Those victories, of course, gave Democrats control of the U.S. Senate and the power to pass the third check in March.

Those direct payments certainly had an impact on the broader economy. Look no further than a study by University of Michigan researchers that found the checks coincided with a drop in financial instability among recipients. However, the economic benefits aren’t why stimulus checks are poised to be a lasting policy creation of the COVID-19 recession. Instead, it’s the popularity and political power of the checks.

“The politics of it suggest there will be future stimulus checks,” Moody’s Analytics chief economist Mark Zandi told Fortune this summer. Amid future recessions, Zandi says, lawmakers will surely face pressure from some voters to issue direct payments.

4. State-issued stimulus checks might stick around, too

On Friday, Golden State residents will have one final chance to submit their tax return and claim their second state-issued stimulus check. In total, around two-thirds of the state’s residents were eligible for California’s second COVID-19 stimulus check.

California isn’t the only state that issued its own direct payment. Maryland also issued a stimulus check, while Texas and Florida each did a round for teachers. Those state payouts, similar to the national checks, are very popular. That popularity combined with political considerations (after all, California Gov. Gavin Newsom did issue this second round amid his recall election campaign) are why state-level checks could stick around long after this pandemic ends.

More finance coverage from Fortune:

  • 4 things to know about stimulus checks in 2022 and beyond
  • GameStop report from SEC sheds new light on meme stock mania—conspiracies and all
  • How high Goldman Sachs predicts home prices will go in 2022
  • Mortgage rates may spike 30% next year, according to a new forecast
  • These markets are expected to be the hottest for real estate in 2022

Subscribe to Fortune Daily to get essential business stories delivered straight to your inbox each morning.

About the Author
By Lance LambertFormer Real Estate Editor
Twitter icon

Lance Lambert is a former Fortune editor who contributes to the Fortune Analytics newsletter.

See full bioRight Arrow Button Icon

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

Google’s I/O conference showed how the company is being completely rebuilt for AI—for better or for worse
Big TechGoogle
Google’s I/O conference showed how the company is being completely rebuilt for AI—for better or for worse
By Alexei Oreskovic and Sharon GoldmanMay 19, 2026
3 hours ago
Why the 137-year-old developer Hongkong Land is reinventing itself—and trying to loosen its ties to its home city
AsiaHong Kong
Why the 137-year-old developer Hongkong Land is reinventing itself—and trying to loosen its ties to its home city
By Nicholas GordonMay 19, 2026
4 hours ago
Svenja Gudell, Chief Economist, Indeed
SuccessFortune Workplace Innovation
Indeed chief economist says the sectors most exposed to AI are seeing a big growth in job demand
By Emma BurleighMay 19, 2026
4 hours ago
The 30-year yield hasn’t been this high since the Great Recession. Do the bond vigilantes ride again?
EconomyBonds
The 30-year yield hasn’t been this high since the Great Recession. Do the bond vigilantes ride again?
By Eva RoytburgMay 19, 2026
4 hours ago
traffic
Future of WorkJobs
Goldman Sachs: The U.S. labor market is healthier now than when ChatGPT launched. Yes, really
By Nick LichtenbergMay 19, 2026
7 hours ago
Customer paying for order of cheese in grocery shop.
Personal Financeshopping
Buy now, pay later is the new financial lifeline for lower-income Americans, as consumer loans pile up to $19 trillion
By Tristan BoveMay 19, 2026
7 hours ago

Most Popular

While Trump insisted the Iran war would end ‘soon,’ an account in his name was buying millions in oil, defense, and gold
Economy
While Trump insisted the Iran war would end ‘soon,’ an account in his name was buying millions in oil, defense, and gold
By Eva RoytburgMay 18, 2026
1 day ago
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
Politics
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
By Jake AngeloMay 12, 2026
7 days ago
EXCLUSIVE: An hour in the Oval Office with the CEO-in-Chief, President Trump
Politics
EXCLUSIVE: An hour in the Oval Office with the CEO-in-Chief, President Trump
By Alyson ShontellMay 18, 2026
2 days ago
Current price of oil as of May 18, 2026
Personal Finance
Current price of oil as of May 18, 2026
By Joseph HostetlerMay 18, 2026
1 day ago
Current price of silver as of Monday, May 18, 2026
Personal Finance
Current price of silver as of Monday, May 18, 2026
By Joseph HostetlerMay 18, 2026
1 day ago
Employers are quietly pausing 401(k) matches again. The last time this happened was the 2008 recession and Covid
Personal Finance
Employers are quietly pausing 401(k) matches again. The last time this happened was the 2008 recession and Covid
By Courtney Vinopal and HR BrewMay 18, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.