Stimulus checks will hit bank accounts starting this weekend; see how much you’ll get
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WASHINGTON (NewsNation Now) — Now that President Joe Biden signed the $1.9 trillion COVID-19 relief bill into law Thursday, the U.S. government will start depositing the $1,400 checks as soon as this weekend, the White House said.
The $1.9 trillion COVID-19 relief bill was set to land on Biden’s desk Friday as the House of Representatives Wednesday voted to pass the measure following the Senate’s approval over the weekend, but he signed it Thursday, a day earlier because Congress enrolled the bill quicker than expected.
A U.S. Treasury spokeswoman said the Biden administration’s priority was to speed relief to Americans, adding: “Treasury stands ready to implement the direct payment check program as soon as the American Rescue Plan is passed.”
“Help is here,” Biden wrote in a tweet after Congress passed the bill Wednesday.
But unlike the last two rounds, the $1,400 check has a lower income phase-out range, with individuals making more than $80,000 and couples earning $160,000 blocked from receiving a third check.
Calculate how much you may receive from the third stimulus check below:
Third Stimulus Check Calculator – American Rescue Plan
Now that Biden signed the bill into law, how soon could you receive the third round of stimulus checks?
“People can expect to start seeing direct deposits hit their bank accounts as early as this weekend,” White House press secretary Jen Psaki said in a news conference immediately following the bill signing.
Payments should begin within days after the bill is signed into law, according to tax experts. Those with direct deposit set up with the IRS will be part of the first batch of payments. Unlike the last two rounds of checks that bore former President Donald Trump’s name, the paper checks sent by mail will not have Biden’s name on the “memo line.”
Nearly 160 million households are expected to get payments, the White House estimates.
For the latest news on the $1.9 trillion COVID-19 relief bill including live updates when the first payments are issued, be sure to download the NewsNation Now app to receive alerts on your phone.
Reuters contributed to this report, with reporting by David Lawder
