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$1400 stimulus checks progress, and when we will get them


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    The House passed another major relief package, this time $1.9 trillion, that includes $1400 stimulus checks for a majority of Americans. Now the Senate has to approve it before this bill becomes realized, but the belief is they won't unless it's parred down.

    The Senate wants to limit the amount of people that can get the stimulus check by changing the income thresholds and phase outs, to curtail the money printing. Which does make some sense but also is seriously slowing up the process. So it's believed the bill will be sent back to the House for a revote after its changed. We shall see.

    But for timeline, there is some hope we are still on progress with March deadlines Dems have touted since Biden got in office. They are now saying they want this all done by March 14th, which incidentally is the same date that extra unemployment and other assistance measures expire, something this bill is also going to reup.

    So even if the bill gets debated, sent back, changed slightly or a lot, the hope is still getting it passed by March 14th. Or very close to the date. That means we could be seeing first checks be deposited as soon as a week after, roughly March 21st.

    Of course that's all just speculation at this point, given how hard it is for Congress to act, but wanted to put this out there and will update here if and when more clarity comes.

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    Anything can happen with an evenly divided Senate with a number of moderate Democrats having a whole lot of power to craft the legislation, but I have a pretty strong feeling all Democrats are on the same page when it comes to the stimulus checks. Senate Democrats have promised to get this passed before current unemployment benefits and other benefits lapse, so I think this will get across the finish line in the next week or so.
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    The Senate did water down the House's stimulus bill by lowering the income thresholds but they did pass a bill for the House to now approve or not. It does still include $1400 checks, so that's good. Might be on pace for March 14th signing into law after all.

    Stay tuned.

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    Seems like this will get passed today and sent to Biden for signature. Means we should be on pace for March checks, especially if you get direct deposit.
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    GoldStandard Wrote: Seems like this will get passed today and sent to Biden for signature. Means we should be on pace for March checks, especially if you get direct deposit.
    Yep. I have a feeling the vast majority of people who have direct deposit will have their money in the next week or two. The 2nd stimulus checks were deposited pretty quickly, so if your information hasn't changed and you qualify then you should be getting it pretty soon.
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    Checks are going out now, should be getting mine soon. Lots of people already got theirs. Thought it was interesting that Orman suggests not to spend or invest the checks but to just save them so that you have the money on hand because the economy is a long ways a way from rebounding.