The U.S. Senate passed the $1.9-trillion American Rescue Plan on Saturday after an all-night session, clearing the measure for President Joe Biden’s signature. Millions of Americans are expected to receive a stimulus check in their bank account with $1,400 payments to be sent before March 14th, along with enhanced coverage of unemployment benefits. Stimulus checks are part of the massive American Rescue Plan Act of 2021 package that Congress passed on Friday; which will be followed by the implementation of Biden’s infrastructure and social policy plan.”
- The American Rescue Plan Act of 2021
- The U.S. Senate passed the $1.9-trillion American Rescue Plan on Saturday after an all-night session, clearing the measure for President Joe Biden’s signature.
- The bill was approved by Congress just three days after it was introduced, and it would provide $32 billion in emergency funding over five years to help states cover costs related to natural disasters that occurred in 2020 and 2021—including fires in California, tornadoes in Missouri and Kansas, floods along the Mississippi River from St Louis to Memphis, Louisiana; sandstorms across much of Texas; blizzards in New York City; hurricanes off Florida’s Gulf Coast; earthquakes off Alaska’s Aleutian Islands; ice storms across much of Canada and Greenland; heat waves across most of Europe (France experienced its hottest summer since 1880) as well as Australia (Australia recorded its first ever temperature above 50 degrees Celsius).
Stimulus Check For Inflation: Where?
It’s time to start planning for your stimulus check! Millions of Americans are expected to receive a $1,400 payment in their bank account with enhanced coverage of unemployment benefits. The Treasury Department is expected to start sending out payments immediately and you’ll get it even if you earned too much to qualify for the first two rounds of stimulus aid. This money will be deposited into your bank account by March 14th at the latest, but don’t wait until then—the sooner you withdraw this cash from its hiding place in your mattress (or wherever else you’ve been storing it), the better!
Stimulus checks are part of the massive American Rescue Plan Act of 2021 package that Congress passed on Friday; which will be followed by the implementation of Biden’s infrastructure and social policy plan.
In short, the stimulus check is an attempt to help Americans who have been hit hard by the economic crisis. The money was allocated over a five-year period: $100 billion in 2021, 2022, 2023; $120 billion in 2024; $140 billion in 2025; $150 billion in 2026.
