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Pressure mounts for fourth stimulus check: Here’s how the headlines can affect your money

U.S. senators called on Biden to include more stimulus in his infrastructure plan.

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Markets were down Monday, pressure for a fourth round of stimulus is mounting, and 1 in 4 Americans plans to quit their job after the pandemic. Here's how the news could affect your money.

Markets slip

All three major indexes slipped Monday. The Dow fell 0.4%, the S&P 0.5%, and the Nasdaq 1%. Markets continued their downward trajectory Tuesday morning.

Fourth stimulus payment pressure is mounting

Pressure for the government to provide a fourth round of stimulus is mounting.

Around 20 U.S. senators have called on President Joe Biden to include another round of stimulus payments to consumers in his infrastructure plan. It could reduce poverty levels from 8.7% to between 6.4% and 6.6%, according to a report by the Urban-Brookings Tax Policy Center.

With unanimous opposition by Republicans for the American Rescue Plan, it is unclear if a fourth round of stimulus could make it through Congress. 

Meanwhile, states like California have been offering some residents a version of stimulus checks. Low-income Californians could qualify for Golden State Stimulus payments of $600 each.

VIDEO1:5901:59
Suze Orman on how to use a second stimulus check

Video by Helen Zhao

1 in 4 Americans is considering quitting 

About 1 in 4 Americans, or 26%, plans to leave their employer after the coronavirus pandemic, according to Prudential Financial's Pulse of the American Worker Survey. Their reasons include concerns about career advancement and rethinking their skill sets. 

An overwhelming majority, 87%, now also consider flexibility a priority for their jobs.

Words you've heard: amended tax return

An amended tax return is a form taxpayers fill to make corrections to a tax return they already filed. With the American Rescue Plan getting signed into law mid-tax season, some Americans who have already filed will have to file an amended return to take advantage of the tax breaks on up to $10,200 of unemployment benefits received in 2020.

Although the daily news can have an impact on your wallet, remember to take a long-term outlook when it comes to decisions on spending, saving, and investing.

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