Third Stimulus Check: Biden Confirms $1,400 Payments Will Go Out This Month

President Joe Biden on Saturday confirmed that the administration’s $1,400 stimulus payments would go out this month.

Millions of Americans are set to receive a third round of economic payments this March after the Senate passed the Democrat’s $1.9 trillion coronavirus relief package in a 50 - 49 vote. This will be the first round of checks to be distributed under the Biden administration.

“It’s a good day today,” Biden said in remarks after the bill was passed. “When we took office 45 days ago, I promised the American people help was on the way. Today, I can say we’ve taken one more giant step forward in delivering on that promise that help is on the way.”

“This plan puts us on a path to beating the virus. This plan gives those families who are struggling the most the help and the breathing room they need to get through this moment. This plan gives small businesses in this country a fighting chance to survive,” the president added.

If the bill becomes law by March 14, the IRS could begin sending out direct payments the week of March 17 or the week of March 22. The IRS may start delivering paper checks the week of March 24 or the week of March 29.

The IRS will issue Economic Impact Payment (EIP) cards — prepaid debit cards — last. The agency is expected to begin sending out this payment type the week of March 31 or the week of April 5.

The sweeping legislation would give much-needed relief for 85% of Americans, with single taxpayers making less than $80,000 a year receiving $1,400 and couples earning less than $160,000 receiving $2,800.

Biden’s $1.9 trillion American Rescue Plan would also provide households an additional $1,400 for dependents of all ages, but only if their guardians meet the income eligibility.

The coronavirus relief bill would provide $300 weekly unemployment benefits to jobless Americans through September. It would also give food stamp recipients 15% more benefits through September.

The Biden administration allocated approximately $20 billion to help low-income households cover back rent and utility bills.