- The White House says many Americans can expect to get a $US1,400 ($1,829) stimulus check this month.
- Individuals earning below $US75,000 ($97,963) annually can receive the full amount.
- Under the last stimulus bill, the IRS distributed 147 million checks in two months.
- Visit the Business section of Insider for more stories.
The White House said on Monday that many Americans could expect to get a $US1,400 ($1,829) stimulus check within a few weeks.
The White House press secretary, Jen Psaki, said the Biden administration was aiming to distribute a significant number of checks this month.
“We expect a large number of Americans to receive relief by the end of the month,” she said, later adding that Treasury Secretary Janet Yellen was “focused like a laser” on getting checks out the door this month.
House Democrats are on course to approve a $US1.9 ($2) trillion relief bill as soon as Tuesday. It contains direct payments in addition to other provisions such as $US350 ($457) billion in aid to states, $US300 ($392) weekly federal unemployment benefits, and a large expansion of the child tax credit.
Individuals earning up to $US75,000 ($97,963) can receive the $US1,400 ($1,829) check. Couples making up to $US150,000 ($195,925) also qualify for the full amount.
Households above both those income thresholds could get a smaller amount, but eligibility is capped at individuals earning above $US80,000 ($104,494) and couples making more than $US160,000 ($208,987). Biden authorized lowering the eligibility thresholds last week after a push from moderate Senate Democrats.
Still, the vast majority of Americans would be eligible to get a direct payment. The left-leaning Institute on Taxation and Economic Policy estimated that the legislation would benefit 86% of adults and 85% of children.
It would be the third wave of one-time checks that the federal government has authorized during the pandemic. Congress early last year approved $US1,200 ($1,567) stimulus checks, most of which the IRS sent within a month.
People who did not receive a check in either round can file to get one in their 2020 tax return.