On Saturday, March 6, the Senate passed the Biden-Harris administration’s $1.9 trillion Covid relief bill, bringing the help to citizens that are in desperate need one step closer to receive the $1.400 stimulus checks.
However, what seemed like a great achievement in post-Trump America is a more complicated matter.
Before we see that money, the bill has to go back to the House, which passed their own version of the relief plan. This vote is scheduled for Tuesday, March 9. The vote includes updating and approving the changes made in the Senate. The decision is still supposed to pass as it did in the Senate side of things, with the same outcome: the Democratic majority trying to save the day.
After the House passes the Senate’s proposed bill, it will then be on Biden’s oval office desk awaiting a signature. The turnaround time for the citizens could be quick. Within days of Biden signing the bill, we could see the money hit our bank accounts.
The last $600 included in the stimulus bill was sent by the Internal Revenue Service, and people started receiving the stimulus three days after then-President Donald Trump signed the bill. However, because tax season is upon us, this could slow down the rate at which citizens could receive their money.
Similar to the last two stimulus checks, the payments will not go out all at once. The people whose bank information is on file with the IRS are the ones who will most likely receive their checks first, then the ones who do not have their direct deposit listen will receive their money in the mail with a check or a prepaid debit card.
In the first round of stimulus checks, about 8 million people did not receive it. Once again, this issue could arise if the IRS cannot reach them.
In this round of the stimulus relief, individuals who earn less than $75,000 or couples making less than $150,000 will receive the full $1,400 payment, plus an additional $1,400 per dependent.
However, if an individual makes more than $80,000 or married couples earn more than $160,000 will be completely cut off. The stimulus is supposed to reach 90% of families, according to an estimate made by the Penn Wharton Budget Model.
Another provision of the relief belief is an extension of the pandemic assistance for unemployment benefits. The Senate bill proposed to continue the $300 weekly federal boozy through September 6. On the other end, the House proposed $400 in a boozy until August 29.
Essentially, it seems that Americans will soon be seeing assistance for the pandemic, but it comes with the warning that, with the current divide, all the proposals could fall through if not approved on Tuesday.