The $1,400 stimulus checks included in the US bailout plan “will be issued electronically as early as this weekend,” press secretary Jen Psaki said Thursday.
President Joe Biden signed Thursday afternoon, a day earlier than expected, the $1.9 trillion-dollar bill, triggering economic relief for lower-income Americans, expanding unemployment benefits and funding for things like vaccines and schools.
“This landmark legislation is about rebuilding the backbone of this country,” Biden said before signing the law, “to give a chance to people in this country, working people, middle-class people, the people who built the country.” to fight.”
That includes the $1,400 checks President Biden promised during his campaign, which the press secretary said will be issued via direct deposit this weekend.
When the final $600 round of payments was approved in late December, the first wave was deposited into bank accounts within days, and most of the others rolled out over the next two weeks.
This round is limited to Americans earning $75,000 a year or less — or joint filers who earn $150,000 a year — and smaller checks go to people earning up to $80,000 a year or $160,000 for joint filers.
Earlier this week, press secretary Psaki said the Treasury Department was preparing for a smooth rollout of payments, most of which she said will be made through direct deposit.
“Secretary Yellen is laser-focused to ensure there is a clear process and system in place to ensure this aid is delivered as quickly as possible,” she said Monday.
Problems with the previous round of audits included payments to the wrong accounts and delays even for those who filed their taxes.
Qualification for this round of checks is dependent on an individual’s most recent tax return, i.e. 2019 and 2020. Those who do not have direct deposit information with the government will receive a paper check.
But this round of checks will not have the president’s signature, a change from former President Trump, who insisted his name appear on the payments.
In addition to the $1,400 checks, the bill also aims to help Americans with children by increasing the child tax credit, which will be paid out in monthly installments.
Next week, President Biden and Vice President Kamala Harris will stop across the country to tout the impact of the $1.9 trillion US bailout, a journey dubbed the “Help is Here” tour.
Biden will visit Delaware County, Pennsylvania on Tuesday and travel to Atlanta with Vice President Harris on Friday, while Harris will also stop in Las Vegas on Monday and Denver on Tuesday.
First Lady Jill Biden will also visit New Jersey on Monday and Second Gentleman Doug Emhoff will make his own trip to New Mexico on Wednesday.