The $ 1.9 trillion stimulus bill is now law, make the third stimulus test officially. Now the IRS is preparing to take off Sending the first wave of new payments. “People can begin to see direct deposits They already entered their bank accounts this weekend, “said Jen Psaki, White House press secretary, on Thursday. And there is more good news: the new ones Check for $ 1,400 (calculate your grand total) is just one of three payments the aid bill approves that could help people struggle through it pandemic.



a close-up of a sheet of paper: the House approved the stimulus package on Wednesday.  President Biden signed the bill on Thursday.  Sarah Tew / CNET


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The house approved the economic stimulus program on Wednesday. President Biden signed the bill on Thursday. Sarah Tew / CNET



© Sarah Tew / CNET

The Biden government hopes to begin assisting COVID.


The $ 1,400 direct payment also comes with a lot stricter income limits than first and second examwhat changes that Admission rules and excludes millions of higher earners. On the other hand, the next two payouts are included Renewed $ 300 weekly federal payments to the unemployed that will last into September and an extension to that Child tax credit This will send regular payments to low-income families.

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A direct payments program that wasn’t made the approved legislation was suggested Increase in the federal minimum wage – Proponents, however, vow to reintroduce the wage increase at a later date. The law also increases funding for Distribution of the COVID-19 vaccine. Here’s what you need to know about the new law: This story was recently updated.

Check 1: The stimulus payment of $ 1,400

The $ 1,400 stimulus check will start to go Millions of Americans this weekend – here is how to track it. Under new admission rulesSome have qualified for the first two payments must not make the cut for the third. ON hard income limitIn order to exclude higher earners from obtaining a check, a rule change will be made regarding the Use of loved ones by doing Stimulus Check Formula. Check out ours Stimulus Payment Calculator to see how the new Senate income cap affects you.

The new legislation gives the IRS until December 31st to complete the submission of stimulus checks.

With this third payment round, adult relatives and children and Mixed citizenship families are included. Here are All the ways a third check could bring you more money. Here is How the tax season might affect your payment. And here is how the third check compares to the first two payments approved in 2020.

Stimulus Check 3: How Much Money You Get

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Check 2: $ 300 weekly unemployment benefit, including a new tax break

According to the new legislation, the federal unemployment controls will run until September 6th at a $ 300 weekly price. The package will too Reducing the tax burden on unemployment benefit for households earning less than $ 150,000 per year. The new law will renew the week $ 300 unemployment check expected to expire on March 14th, without a funding gap.

Check 3: Extended child tax credit for 2021 that is worth more than stimulus checks

The new law extends child tax credit This currently allows families to credit up to $ 2,000 for children under the age of 17. The plan extends benefit to low-income families who would otherwise not be eligible for credit. Families can claim up to $ 3,600 per year for a child under 6 years old and up to $ 3,000 per year for children 6-17 years of age.



a close-up of a book: Democrats want to provide financial support to families with children.  Sarah Tew / CNET


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Democrats want to provide financial support to families with children. Sarah Tew / CNET

The plan also removes the requirement that you must earn $ 2,500 per year to receive the credit and makes the credits fully refundable. In addition, the tax credits will be extended for one year to cover childcare costs. Families could get back up to half of their childcare expenses for children under the age of 13 in tax credit, up to $ 4,000 for a single child and $ 8,000 for two or more children. You can find even more details here the child tax credit.

What happened to student loan debt relief?

Although student loan debt relief has been part of the discussion since January, Senate Democrats and President have different dollar numbers in mind as to how much to cancel. Biden said on Feb. 16 he supports canceling student debt of $ 10,000 per borrower and extending the hiatus for student loan repayment. However, its number contradicts a Senate Democratic proposal to pay off student debt of up to $ 50,000.

“I think at this moment of economic pain and stress we should get rid of the interest on the # 1 accumulated debt. And # 2, I am ready to write off the $ 10,000 debt, but not $ 50,000,” said Biden. While the House and Senate versions of the bill do not cancel student debt, the law includes a provision that, according to the New York Times, makes any student loan made tax-free.



Congress allocated more money to child tax credits.  Sarah Tew / CNET


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Congress allocated more money to child tax credits. Sarah Tew / CNET

What about the money for coronavirus vaccine delivery?

To date, the US has distributed more than 131 million vaccine doses – and administered more than 98 million – with the country on track to meet the government’s goal of 100 million shocks in the first 100 days of its administration (April 30) to reach his 100th day in office). Said Biden By the end of May, the country will have enough supplies to vaccinate every adult in the United States. The goal then becomes to have enough of the other supplies as well as enough people to administer the vaccine.

The president’s plans see $ 160 billion for one nationwide vaccination program This will help state and local governments get the vaccine into people’s arms.

Funding to reopen schools during the pandemic

The return of students to physical classrooms is a critical factor in economic recovery. The new law calls for students to return to school by safely reopening much of the kindergarten in eighth grade classrooms for the first 100 days of administration.

Additional money for state, local, and tribal governments

Since the fall, economists have been pushing for Congress to allocate funding for state and local public jobs. “The case for extra help is strong because the downside risk of doing nothing is very real,” the American Enterprise Institute, a conservative think tank, said late last year. “The fact that over 1 million state and municipal employees have lost their jobs is a sign that the financial hardship has had real consequences.” In addition to state and local funds, the law provides funds for food and water support as well as food stamps.

There is currently no $ 15 increase in the minimum wage

Senate Democrats dropped a provision in the Auxiliary Act to increase the minimum wage after the Senate MP determined which items can and cannot be included in the law under a Technique known as budget reconciliationfound the determination to be outside of the guidelines. Proponents will try to put the $ 15 hourly rate on another bill.

“If a Senator thinks this is the last time they’ll vote on whether or not to get 32 ​​million Americans to get a raise, they’re profoundly mistaken,” Senator Bernie Sanders tweeted on March 5, and we will create because that is what the American people ask for and need. “

The eviction ban has already been extended to September

The new package extends the eviction and foreclosure moratoria until September 30th. The plan provides $ 30 billion in rental support for renters and small landlords, particularly low- and middle-income households. On Jan. 20, Biden signed an executive order extending the eviction ban until this month, which means it may not be part of the final new stimulus package at all.

Further information on economic stimulus money can be found here The Most Important Facts You Need To Know About Stimulus Checks, how one Calculate the size of your check and like yours Relatives could be included in your payment.

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