Coronavirus relief package signed into legislation
Pres. Joe Biden approved the $1.9 trillion COVID-19 relief package on March 10. Having been hotly debated for the past few months, the finalized bill includes sending direct payments of $1,400 to qualified Americans and puts funds into vaccine distribution.
As the third round of COVID-19 relief checks, these deposits will be based on the same income limits as before. Individuals who earn up to $75,000 in adjusted gross income, heads of household with up to $112,500 and married couples filing jointly with up to $150,000 are qualified to receive the full amount each.
Democrats approved the plan on their own through the special budget reconciliation process in the Senate, while the bill passed in the House without a Republican vote. Republicans argued that these checks would increase the deficit and that the necessity for these checks has decreased as the job market recovers. Their main concern was that the checks would increase the deficit to the economy. In the House, the vote was 220-211, with one Democrat, Jared Golden voting against the bill.
This round of stimulus checks marks the largest amount approved by the federal government thus far. The checks will be delivering more money than the previous two rounds to an estimated 85% of Americans.
