President Joe Biden speaks to the press ahead of a meeting in the Oval Office with lawmakers in the White House on March 3, 2021 in Washington, DC to discuss cancer legislation.
Brendan Smialowski | AFP | Getty Images
President Joe Biden said on Saturday that Americans will start getting their stimulus tests this month because Democrats want to send out more aid.
“When we took office 45 days ago, I promised the American people that help was on the way. Today I can say that we have taken another giant step forward to fulfill the promise that help is on the way, “Biden said in a press conference this afternoon.
“With this plan, the Americans who need help so urgently this month will come out the door,” the president said.
The Senate earlier in the day passed the $ 1.9 billion coronavirus relief package and sent it back to the House for final approval. The Democratic House intends to approve the bill Tuesday. It will then be given to Biden for his signature, which is expected before a March 14 deadline, when enhanced federal unemployment benefits should expire.
The legislation includes direct payments of up to $ 1,400 to most Americans, a $ 300-a-week boost to unemployment benefits in September and a one-year extension of the child tax credit. The checks start phasing out at $ 75,000 for single custodians, $ 112,500 for heads of households and $ 150,000 for joint filers.
Similar to the first two incentive checks, the majority of payments will be sent by direct deposit to those who have already submitted their banking information to the IRS. According to Garrett Watson, senior policy analyst at the Tax Foundation, the money could start arriving on the last $ 600 checks within two weeks of the legislation being finalized.
The rest of the direct payments will be made by post as debit cards or as checks. These payments may take longer to arrive, possibly until April and May, Watson said.
– OilGasJobz’s Lorie Konish contributed to this report.