White House: Americans will receive $1,400 payments by end of March

WHAT YOU NEED TO KNOW:

• White House Press Secretary Jen Psaki said on Monday that a large majority of Americans would be able to receive their $1,400 stimulus checks.
• President Joe Biden’s $.19 trillion COVID-19 package is expected to be passed in the House on Tuesday after it was approved by the Senate over the weekend.
• This would be the third round of stimulus checks being given to Americans.

The White House announced on Monday that Americans who are eligible for the $1,400 stimulus checks will receive them by the end of March as President Joe Biden’s $1.9 trillion COVID-19 relief package comes into enactment.

“The Treasury Department is working on what this looks like and what the processing looks like,” White House press secretary Jen Psaki said during a press briefing. “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.”

Psaki’s pronouncement came as the House is set to vote on the coronavirus stimulus proposal following its approval in the Senate last weekend. The allocation comprises $1,400 financial assistance to Americans who earn up to $75,000 yearly, heads of household who earn up to $112,500, and married couples with a combined annual income of $150,000.

When asked whether there would be concerns of delay as some payments were released late in the previous rounds, Psaki noted that Treasury Secretary Janet Yellen was “focused like a laser” on building a mechanism to ensure that the assistance would come as quickly as possible.

Over the weekend, the president said that the stimulus payments should begin their disbursement to the public this month.

“This plan will get checks out the door, starting this month, to the American people who so desperately need the help, many of whom are lying in bed at night, staring at the ceiling, wondering, ‘Will I lose my job, if I haven’t already?  Will I lose my insurance? Will I lose my home?’” Biden said shortly after the Senate passed the measure.

The House is also expected to pass it on Tuesday as Biden looks forward to having it signed on the same day.

This latest relief aid would be the third wave of stimulus checks to be provided to Americans, as the first two waves ($1,200 and $600) were distributed early last year. The press secretary’s statements also implied that the Treasury would give further guidance about the payments’ disbursement.

Source: The Hill