President Joe Biden’s economic stimulus package seems to be right around the corner. For households who have struggled immensely during the Coronavirus pandemic, news about it couldn’t come sooner, but sometimes information can be a little confusing if not outright daunting.
While we know that plans are underway to provide funding for vaccine distributions, state and local governments, school reopening, and small businesses, a lot of individuals don’t know what to personally expect from the stimulus checks. Should you or shouldn’t you expect some money in your pocket in the near future?
To help clear some of the air, we’ve prepared a list of 12 things we know so far. Today, we hope most of your stimulus check questions will be answered!
1. $1,400 Stimulus Checks
Big news arrived back in December when the COVID-Related Tax Relief Act authorized a second round of $600 stimulus checks. For some, this was exactly what they’d been waiting for for a long time, but a lot of people including lawmakers were outraged by the sum.
What followed was the introduction of the CASH act, which was passed in the House of Representatives but died in the Senate without a vote. It would have offered a further $1,400, totaling up to $2,000 together with the stimulus checks form back in December.
Despite this hiccup, President Biden still wishes to revive the idea. On top of that, he wants to expand the plan for dependents. In the near future, dependents of all ages could receive additional money, not just those 16 or younger.