Third Stimulus Check To Hit Accounts As Early As This Weekend

The $1,400 direct payments for most Americans provided by the American Rescue Plan are expected to arrive in bank accounts as early as this weekend.

The government will make the first direct deposits this weekend, according to press secretary Jen Psaki. She claims that payments will continue for the next few weeks.

On Thursday, President Joe Biden signed the $1.9 trillion American Rescue Package into law in the Oval Office.

A single taxpayer will receive a direct payment of $1,400, while a married couple filing jointly will receive $2,800, plus $1,400 for each dependent. Individuals earning up to $75,000 and married couples earning up to $150,000 will be eligible for the maximum amount.

The check will be smaller for those earning marginally more, with a strict cut-off of $80,000 for individuals and $160,000 for married couples.

The majority of Americans will receive the maximum sum. According to the United States Census Bureau, the median household income in 2019 was $68,703.

Aside from the $1,400 direct payments to individuals, the plan includes funds to help allocate coronavirus vaccines, provide relief to homeowners and renters, assist in reopening schools, and provide aid to state and local governments and expand the child tax credit, among other things.

On Wednesday, seven weeks after Biden took office and four days after the Senate passed the bill, the House gave final congressional approval to the sweeping package with a near-party-line vote of 220-211. Republicans in both chambers unanimously opposed the bill, calling it bloated, loaded with liberal policies, and oblivious to signs that the crises were already softening.

 

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