Americans Can Expect Stimulus Payments Starting This Week After President Biden Signed the COVID Relief Bill
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President Joe Biden signed the $1.9 trillion COVID-19 relief bill on March 11.
“This afternoon, I’m signing the American Rescue Plan – a historic bill that will turn the page on this pandemic and jumpstart our economy,” President Biden tweeted.
The bill that was supposed to be signed March 12 was signed a day early, after being passed through Congress without any Republican support.
“Before I took office, I promised you that help was on the way. Today, I signed the American Rescue Plan into law, and can officially say: help is here,” Biden tweeted.
The bill includes an extension of unemployment benefits and bonuses, $1,400 stimulus payments, and a child tax credit.
The child tax credit is expected to help lift families out of poverty.
On Thursday afternoon, White House Press Secretary Jen Psaki announced that the presidential cabinet members would be traveling to different states in the U.S. to direct the funds within the communities.
“During their trips, they will discuss the benefits of the American Rescue Plan for working families, and they will engage with people at each of these stops about how the American people can benefit from the components of the package moving forward,” Psaki said.
Americans have been anticipating the third stimulus payment that is expected to be sent to nearly 160 million households.
Many will see the $1,400 stimulus payments being deposited into their bank accounts as early as this weekend.
Those who set up direct deposit will likely see the stimulus payment first. Then others who receive paper checks and prepaid debit cards in the mail should expect them in the coming weeks.
Individuals who make a yearly income below $75,000 will receive the full $1,400, and married couples who make below $150,000 will get $2,800.