Third Stimulus Checks Could Arrive This Month As Relief Bill Heads To Senate

KEY POINTS

The US Senate will likely take up Biden's relief legislation this week
Democrats are working to pass the bill before March 14
The IRS could begin sending $1,400 checks within a week after approval

A third round of stimulus checks amounting to $1,400 could arrive this month as President Joe Biden’s $1.9 trillion relief package heads to the Senate.

The House of Representatives on Saturday morning passed the coronavirus relief bill, sending the huge stimulus package to the Senate for a vote. The upper chamber will likely take the measure to the floor this week.

In brief remarks after the House vote, Biden addressed lawmakers in the Senate, “where I hope it will receive quick action,” he said.

“We have no time to waste. If we act now, decisively, quickly and boldly, we can finally get ahead of this virus. We can finally get our economy moving again,” Biden said. “The people of this country have suffered far too much for too long. We need to relieve that suffering.”

Democrats are working to approve the bill, dubbed the American Rescue Plan, and get Biden to sign it into law before current federal unemployment benefits expire on March 14. If the Senate takes up the $1.9 trillion plan this week -- which will be a little different from the House proposal, in part because it leaves out the $15 minimum wage increase following the parliamentarian's ruling that it doesn't follow budget rules -- the House could cast its final vote over the weekend or during the week of March 8.

If the American Rescue Plan is passed before March 12, the Internal Revenue Service could begin distributing the $1,400 stimulus checks directly to bank accounts within a week following the signing of the legislation.

Democrats are expected to use a budget reconciliation process to pass Biden’s relief bill without support from the GOP. The process leaves no room for error for Democrats, who need to keep every member in their party to vote in favor of the package in the 50-50 chamber.

If all Senate Democrats vote to pass the measure, Vice President Kamala Harris will need to break the tie. No GOP lawmakers are expected to back the relief bill in the Senate.

The American Rescue Plan includes provisions for another round of $1,400 checks for single taxpayers earning less than $75,000 annually and $2,800 for married couples. It also includes funds for vaccine distribution, $350 for state and local governments, an expanded child tax credit and more aid for small businesses affected by the COVID-19 pandemic.