All indications are that President Biden will just days from now sign into law a coronavirus relief package that contains direct payments of $1,400 for most Americans.
The Senate has passed the historic $1.9 trillion legislation, allowing for individuals with incomes of between $75,000 and $80,000 and couples with incomes of between $150,000 and $160,000, to receive payments.
Individuals with incomes above $80,000 and married couples with incomes above $160,000, will not be eligible for funds under the legislation.
The Treasury Department has announced that payments will be sent out as soon as the President signs the new bill into law.
“The Treasury Department is working on what this looks like and what the processing looks like,” Jen Psaki, White House press secretary said in the wake of the Senate’s passage of the bill.
“We expect a large number of Americans to receive relief by the end of the month, but in terms of the mechanics of it, Treasury just has to work through that.”
The $1,400 checks mark the third round of stimulus payments sent from Washington since the onset of the Covid-19 virus, following on the heels of $1,200 and $600 checks approved by Congress and signed into law last year by President Trump.
Upon Senate passage of the legislation Biden told reporters: “This plan will get checks out the door, starting this month, to the American people who so desperately need the help.”
The legislation still needs the final approval of the House, which is expected by no later than mid-week.
By Garry Boulard
