Americans will start receiving $1,400 stimulus checks ‘as early as this weekend,’ White House says

Jen psaki biden capitol commission
Jen Psaki, the White House press secretary. Alex Wong/Getty Images
  • Americans will receive $US1,400 ($1,799) stimulus checks “as early as this weekend,” the White House said.
  • President Joe Biden signed the coronavirus package into law on Thursday.
  • Payments will continue for weeks, said Jen Psaki, the White House press secretary.
  • See more stories on Insider’s business page.

Eligible Americans will start to receive $US1,400 ($1,799) stimulus checks “as early as this weekend,” the White House press secretary, Jen Psaki, announced on Thursday.

Psaki said the Treasury Department and the IRS were “working hard to get relief payments out the door as fast as possible to the American people.”

“People can expect to start seeing direct deposits hit their bank accounts as early as this weekend,” Psaki said. “This is of course just the first wave.

“Payments to eligible Americans will continue throughout the course of the next several weeks,” she added.

The update came shortly after President Joe Biden signed the $US1.9 ($2) trillion coronavirus stimulus package, called the American Rescue Plan, into law. The bill includes $US1,400 ($1,799) direct payments for millions of American taxpayers.

Individuals earning up to $US75,000 ($96,399) and couples making up to $US150,000 ($192,798) qualify for the full check.

People earning above those thresholds still qualify for a smaller direct payment. But eligibility is capped at individuals earning more than $US80,000 ($102,826) and joint filers bringing in more than $US160,000 ($205,651).

Psaki said earlier this week that a “large number” of Americans should expect to get the checks by the end of the month. They’re the third wave of direct payments that the federal government has issued in the yearlong coronavirus pandemic.

It took roughly a month and a half for the IRS to distribute 147 million payments of up to $US600 ($771) under the relief law enacted in December.

The latest massive bill also provides an extension of weekly federal unemployment benefits, an expanded child tax credit, funding for vaccine distribution, and several other measures to combat the COVID-19 pandemic.

Biden plans to address the nation in a primetime speech on Thursday to promote the package and discuss his next steps for tackling the public-health crisis. The House passed the legislation on Wednesday, four days after the Senate approved it.