On Wednesday, the U.S. House passed the final version of President Biden’s $1.9 trillion “COVID-19 relief bill” after the Senate approved the same bill on Saturday. The bill now heads to the President’s desk and is expected to be signed by Friday.
The bill contains a third round of stimulus checks worth up to $1,400 per person, including dependents, and $2,800 per married couple. Business Insider reports single filers with adjusted gross incomes of $75,000 or less get the check. Head-of-household filers with AGIs of $112,500 or less will get the check.
Married joint filers with AGIs of $150,000 get the payment. Reduced checks would go to people earning above those limits but below $80,000 for single filers, $120,000 for head-of-household filers, and $160,000 for married joint filers.
CBS News reports the IRS could begin delivering the checks “within one to two weeks, based on the time frame for the previous round of checks - potentially as early as the weekend of March 13.”
CNBC estimates the federal government will issue the first batch of checks to Americans who gave direct deposit information when they filed taxes for 2010 or 2020.
Senate majority leader Chuck Schumer estimated households will receive the checks by the end of March. President Biden said the IRS will start issuing the checks in March.
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Cox Media Group