'Hope is back': Stimulus checks start hitting bank accounts nationwide

Stimulus checks are starting to land in Americans' bank accounts across the country this weekend, just days after President Joe Biden signed the $1.9 trillion American Rescue Plan into law.

The third round of direct payments — which follows two prior sets of checks signed into law last year by former President Donald Trump — are the most substantial yet, though some of the people included in the last deals won't be eligible this time.

"The checks are going to start arriving today," Senate Majority Leader Chuck Schumer, D-N.Y., told MSNBC's "The Sunday Show." "New Yorkers should start receiving the checks today, and many of them will get them this week. We promise that. Republicans blocked it. We said put us in power, we'll get it done."

Those who make less than $75,000 or heads of households who make less than $112,500 are eligible for the full $1,400 payment. Individuals earning less than $80,000 and heads of households making less than $120,000 are still eligible for reduced payments.

🚨 Stimulus cash is already out the door. This is a bank posting sent to me by a member of a family of four making under $150,000. 🚨 pic.twitter.com/iunzWcK1o8

— Sahil Kapur (@sahilkapur) March 13, 2021

Couples who file taxes jointly qualify for the full check if they make up to $150,000 and can receive partial payments if they make up to $160,000.

In addition to those payments, parents can get up to $1,400 more for each child — including children over 18 — listed on their tax returns. For example, a family of four with a household income under $150,000 should receive $5,600.

The White House this weekend promoted accounts from Twitter users who had the payments recently land in their bank account.

"Stimulus check just hit my account via direct deposit. Lightning fast," one user wrote. "Thank you @POTUS Biden and everyone who supported helping Americans through this pandemic. Hope is back. Light is visible."

Source: Read Full Article