PRESIDENT Joe Biden has assured the Americans that a new round of Covid Aid will send out stimulus checks worth $ 1,400.
But with so many desperately in need of the support package now, many wonder how long they will have to wait for the incentive.
President Joe Biden has vowed to send more stimulus checks to AmericansPhoto credit: Getty Images – Getty
Biden pledged to “act quickly” to get Americans the third installment of stimulus checks after the new $ 1.9 trillion Covid budget plan was passed.
During a press conference on Friday, Biden told reporters that he would not delay sending out stimulus payments.
“I’ll act quickly,” he said. “I will help the Americans who are now injured.”
Biden also confirmed that aid payments would not be cut.
“Here’s what I’m not going to do: I’m not cutting off the checks,” he said.
“They’ll cost $ 1,400. Period. That was promised to the American people.”
Biden’s statement came after the House, in a vote near the party line, approved the Senate’s budget resolution.
The Democrats plan to push a package similar to Biden’s $ 1.9 trillion economic aid proposal – all signs point to a bill being signed in the coming weeks.
House spokeswoman Nancy Pelosi told reporters Friday, “Hopefully we’ll send something to the Senate in two weeks and that will be done.”
The new plan was passed in the Senate in a “huge first step” in support of the Americans.
After about 15 hours of debate and successive votes on dozens of amendments, the Senate found itself at a 50:50 partisan impasse in passing the budget.
That impasse was broken early Friday morning by Vice President Kamala Harris, whose “yes” vote meant victory for the Democrats.
“On this vote, the yes is for 50. The no is 50,” Harris said at the end of the session.
“Since the Senate is equally divided, the Vice President agrees and the simultaneous resolution, as amended, is adopted.”
So when can Americans expect to get their stimulus checks?
Once the bill is signed by Biden, Treasury Secretary Janet Yellen should be able to deposit the $ 1,400 checks into Americans’ bank accounts in a matter of days.
Compared to the speed of the previous $ 1,200 Cares Act reviews, Americans could expect their support packages to arrive in the mail about a week after they were handed over.
The $ 1,200 and $ 600 stimulus checks sent in 2020 went to Americans with incomes of $ 75,000 or less and married couples who jointly submit incomes less than $ 150,000.
These checks were set for individuals earning more than $ 99,000 and for joint applicants with no children for $ 198,000.
Income was based on adjusted gross income.
This time around, those income thresholds could be lowered, with Biden suggesting last month that it may be lowered to direct the money towards those most in need.
On Thursday, the Washington Post reported that Democrats may only send $ 1,400 direct payments to people earning $ 50,000 or less, or $ 2,800 to married couples with incomes of $ 100,000 or less.
However, it is not currently clear what new income thresholds Democrats could use for exit opportunities.
It’s also unclear whether the Democrats’ package would send checks based on 2019 or 2020 earnings.
Biden was previously beaten up for “going back” on $ 2,000 checks he originally sponsored.
Last month, Biden tweeted, “$ 600 just isn’t enough when you have to put on the table between rent and food.
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“We need $ 2,000 stimulus checks.”
Just hours after the Senate reached an agreement on a new Covid aid bill, Pelosi called the budget a “declaration of our values” and insisted that the resolution was a “giant leap in saving lives and livelihoods.”
Pelosi said, “Next week we will be writing the legislation to pave the way for the final adoption of the Biden American Rescue Plan so we can finish our work before the end of February.”