AMERICANS can expect their third stimulus checks of $1,400 soon – that is if Congress and the president can come together quickly to pass Joe Biden’s $1.9 trillion stimulus package.
Rumors have it that Congress might split the $1.9 trillion stimulus package in two, one smaller “skinny” bill containing a third stimulus check and Covid-19 vaccine distribution, and the rest of the funding going to a targeted date of around mid-March.
Americans can expect a third stimulus check soonCredit: Getty Images – Getty
However, the White House has made clear they are not in favor of a split bill and would prefer a unified package instead.
If an agreement is reached this week, Americans can receive their third round of stimulus checks within just nine days, leaving the Senate with ample time to focus their efforts on Trump’s impeachment trial set to start on February 9.
If Congress can pass the stimulus checks by February 4, CNET reports Americans could start receiving their checks by direct deposit on February 8, by mail on February 15, and by debit card on February 22.
Those dates all come contingent that a) Congress can act quickly on the checks, which seems highly unlikely, and b) they will pass a larger Covid-19 relief package come mid-March.
Congress is deliberating on when to send out the $1,400 checksCredit: Getty Images – Getty
House Speaker Nancy Pelosi said last week that the House would be ready by February 1 to pass President Joe Biden’s proposal, but didn’t say if that would be the full stimulus package of it would be broken into two.
A smaller bill will face less opposition in the Senate, which would therefore allow the IRS to send out checks even faster.
However, there’s a catch-22: the same contents of the skinny bill might make it easier for those opposing the overall package to support it.
There’s a good chance the IRS can send out the checks almost immediately – they sent more than 100 million second stimulus checks in just under three weeks.
Although there is no knowing for sure how quickly the stimulus checks will come, Americans could speed up their receipt of the checks by signing up for direct deposit if not already.