White House: COVID-19 stimulus checks could arrive this weekend [Video]

WHAT YOU NEED TO KNOW:

• White House Press Secretary Jen Psaki declared on Thursday that some Americans can already receive their stimulus checks this weekend.
• The announcement came moments after President Joe Biden signed the $1.9 trillion COVID package plan.
• In his address on Thursday, Biden said that the passage of the bill would boost their efforts to reopen schools.

The White House announced on Thursday that American citizens could obtain their $1,400 stimulus checks this coming weekend.

During the White House press briefing, White House Press Secretary Jen Psaki said that “people can expect to start seeing direct deposits hit their bank accounts as early as this weekend.”

“This is, of course, just the first wave,” she added, noting that “payments to eligible Americans will continue throughout the course of the next several weeks.”

Psaki made the announcement shortly after President Joe Biden signed the $1.9 trillion COVID-19 package bill.

Aside from the $1,400 payments to every eligible American, the package included vaccine allocations, funding for state and local governments, among others. The relief bill also included an unemployment insurance reinforcement of $300 per week and extended the child tax credit for one year.

The comprehensive bill was approved by Congress amid no support from GOP legislators, but still had backing from most Americans. Using the budget reconciliation process, the Democrat-controlled House and Senate were able to approve the bill.

“This historic legislation is about rebuilding the backbone of this country… And giving people in this nation, working people, middle-class folks, the people who built this country, a fighting chance,” Biden said as he signed the measure.

On Thursday, the president revealed during his first primetime address that the administration can now amplify its efforts on reopening the schools given the enactment of the package.

He also laid down his vision for the country as it moves forward to mitigate the pandemic.

“If we all do our part, this country will be vaccinated soon, our economy will be on the mend, our kids will be back in school, and we’ll have proven once again that this country can do anything,” Biden said.

The president’s speech marked his 50th day in office and the first year anniversary of the virus outbreak in the US.

Source: CNBC.com