The Senate passed the $1.9 trillion stimulus plan Saturday and is sending it back to the House of Representatives. Once approved by the House, the bill will be send to President Joe Biden’s desk for signature. The expectation is the bill will be on his desk on or before March 14.
When Will Americans Receive The Checks?
Judging by the previous rounds of stimulus, Americans should expect to receive their checks as early as two week’s after the president’s signature.
Will I Qualify?
To qualify for a $1400 direct payment, you must hold a social security number and, as an individual, earn less than $80,000 per year. Families must earn less than $160,000. Incomes are based off of 2020 or 2019 tax filings. Every dependent also qualifies for direct payment. For example, a family of five earning less than $160,000 per year would receive $7,000 in benefits.
What About Unemployment Benefits?
Employees and individual freelance contractors that have lost their jobs will qualify for $300 in weekly payments through September. This is a federal payment and comes in addition to any state benefits the individual may already be receiving.
The stimulus is expected to give the American economy an added boost at a time when it increasingly is showing signs of healing.