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- President Joe Biden has promised to start sending stimulus checks “this month”.
- Senate Democrats just passed Biden’s $ 1.9 trillion stimulus package.
- People earning up to $ 80,000 will receive $ 1,400 in direct payments.
- Visit Insider’s Business section for more stories.
President Joe Biden announced on Saturday that Americans would start receiving their stimulus checks this month, after Senate Democrats passed his $ 1.9 trillion stimulus package.
“This plan will pass checks, starting this month, to Americans who desperately need help, many of whom are lying at night, staring at the ceiling, wondering, ‘Am I going to lose my job, if I haven’t done it already? Am I going to lose my insurance? Will I lose my home? “Biden said.
In his prepared remarks to the White House, Biden noted that he promised when he took office in January that “help is on the way” and that the passage of the stimulus package was an effort to keep that promise. .
The package includes direct payments of $ 1,400 to individuals earning up to $ 80,000 per year or couples earning up to $ 160,000, according to their most recent tax returns.
Although Democrats have sought to raise the federal minimum wage to $ 15, they left it out of the package after a senior Senate official said it would violate the rules of the reconciliation process.
Beyond checks, the stimulus package also provides $ 300 per week in unemployment assistance that will run through the summer, money for the distribution of COVID-19 vaccines, a new credit program from children’s tax intended to massively reduce child poverty; and assistance to small businesses and schools as well as local and state governments.
“This nation has suffered too much for too long,” Biden said on Saturday. “And everything in this package is designed to alleviate suffering and meet the nation’s most urgent needs and put us in a better position to prevail, starting with beating this virus and vaccinating the country.”
The stimulus package must come back to the House of Representatives, which is expected to pass the bill early next week before Biden can sign it.
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