Over the weekend, the Senate passed President Biden’s $1.9 trillion COVID-19 relief bill. The passage of the bill was split along party lines with all Democrats voting in favor of it and all Republicans voting against it. Included in the bill is the third round of economic impact payments and other measures to get funds to struggling Americans, including:
- $1,400 stimulus checks—the largest yet—for individuals who make less than $75,000 a year
- A child allowance of up to $3,600 for one year
- $300 per week in federal unemployment benefits until September 6
The passage of the $1.9 trillion aid package in the Senate represents its most significant hurdle. However, the bill now has to go back to the House for a vote. That’s because even though the House already passed a $1.9 trillion aid package, the Senate changed some aspects of it, thus requiring passage in the House again.
The good news is, the House is controlled by Democrats, so it’s likely the Senate-endorsed $1.9 trillion aid package will sail through a vote. That vote is likely to occur on Tuesday and once it does, Biden could affix his signature to the bill that same day.
So, provided all this happens on Tuesday, when could you expect to get your third stimulus check? It’s possible the next checks could begin going out as soon as Friday, reports CNN. Why? In December, after then-President Trump signed the bill providing for the prior $600 stimulus checks, the IRS began sending out checks within three days. The turnaround is likely to be the same this time.
Of course, it’s possible with tax season in full swing, the distribution of the third stimulus checks could be delayed, however, any such delay shouldn’t be a significant one considering how badly the Biden administration wants to get funds into the hands of struggling Americans. And of course, just like with the previous two checks, those who have their bank details on file with the IRS should expect to see the funds deposited into their bank accounts well before those who need to wait on a paper check.