8/28/2023 0 Comments Recent stimulus check news![]() ![]() Under terms of the bill, anyone who is a current Social Security recipient, or who will turn 62 in 2023, would receive an extra $200 in each monthly check. Meaning, Social Security recipients could get an additional $2,400 a year in benefits if the bill wins approval - something seniors would no doubt welcome as inflation wipes out their annual cost-of-living increases. Learn: 3 Ways to Recession Proof Your RetirementĪs GOBankingRates previously reported, the Social Security Expansion Act was first introduced on June 9 by Sanders and U.S. I’m a Social Security Expert: Here’s What Your Benefit Should Be in 5 Years Bernie Sanders (Vt.) formally reintroduced The Social Security Expansion Act to Congress, and this time, he had a lot more support from fellow lawmakers pushing the initiative. Next week, President Biden and Vice President Kamala Harris will make stops around the country to tout the impact of the $1.9 trillion American Rescue Plan, a trip dubbed the “Help is Here” tour.īiden will visit Delaware County, Pennsylvania on Tuesday and travel with Vice President Harris to Atlanta on Friday, while Harris will also stop in Las Vegas on Monday and Denver on Tuesday.įirst Lady Jill Biden will also visit New Jersey on Monday and Second Gentleman Doug Emhoff will make his own trip to New Mexico Wednesday.On Feb. ![]() Those who don’t have direct deposit information on file with the government will receive a paper check.īut this round of checks won’t have the president’s signature on it, a change from former President Trump, who insisted his name appear on the payments.īesides the $1,400 checks, the bill also aims to help Americans with children by boosting the child tax credit, which will be paid out in monthly installments. The qualification for this round of checks is dependent on a person’s most recent tax filing, either 20. Issues with the previous round of checks included payments going to the wrong back accounts and delays even for those who had filed their taxes. “Secretary Yellen is focused like a laser on ensuring that there's a clear process and system for ensuring this assistance gets out as quickly as possible,” she said Monday. This round is limited to Americans making $75,000 per year or less - or joint filers making $150,000 annually - and smaller checks will go out to people making up to $80,000 per year or $160,000 for joint filers.Įarlier this week, Press Secretary Psaki said the Treasury Department was preparing for a smooth rollout of the payments, the majority of which she said will go out by direct deposit. When the last round of $600 payments was approved in late December, the initial wave was deposited into bank accounts in a matter of days, and most others rolled out in the two weeks following. ![]() That includes the $1,400 checks President Biden promised during his campaign, which the press secretary said will start going out via direct deposit this weekend. "This historic legislation is about rebuilding the backbone of this country," Biden said before signing the bill, "giving people in this nation, working people, middle class folks, the people that built the country a fighting chance.” President Joe Biden signed the $1.9 trillion dollar legislation into law Thursday afternoon, a day earlier than expected, setting into motion economic relief for lower-income Americans, an extension of unemployment benefits and funding for things like vaccines and schools.
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