The long-awaited third stimulus check is coming soon for Americans who need relief. This $1,200 check, more formally known as the American Rescue Plan Act of 2021, was passed as part of President Joe Biden’s coronavirus relief package and is set to be sent out in the spring of 2023.
For those who need the extra money, the $1,200 stimulus check is a godsend. It will be sent to individuals who make less than $75,000 a year, and couples filing jointly who make less than $150,000 a year. The amount of the check decreases in $5 increments for each $100 of income over those thresholds.
The stimulus check can be used for a variety of purposes, such as paying bills, purchasing food or clothing, or making a donation to a charity. There are no restrictions on how the money can be used. However, the money cannot be used to purchase alcohol, tobacco, or any other illegal substances.
Stimulus Check Update 2023 America
The stimulus check is a much needed boost for many families who are struggling to make ends meet due to the economic downturn caused by the coronavirus pandemic. The check is part of a larger $1.9 trillion package of aid measures, which includes an extension of the unemployment benefits, additional federal funding for state and local governments, and more.
The money is also a lifeline for small businesses who have been hit especially hard by the pandemic. The stimulus check will help them to keep their doors open and pay their employees, which will in turn help support the economy at large.
Although the stimulus check will provide much needed help to households, it is unfortunately only a one-time payment. This means that those who are struggling will need to find other ways to get back on their feet. The most important thing is to stay informed and take advantage of whatever resources are available.
The stimulus check is a welcome lifeline for those who need it most, but it is only a temporary solution. In order to build a stronger, more resilient economy, the government will need to continue to explore ways to provide long-term help for those in need.
