American bank accounts have already received stimulus checks – just days after President Joe Biden authorized them by signing the American rescue plan.
The speed at which eligible Americans receive their third and largest stimulus checks to date during the coronavirus pandemic – less than two months after Biden’s presidency – is a political victory for a president who failed to garner bipartisan support for his bill, this but still was able to quickly deliver a comprehensive aid package along the party lines.
As Vox’s Emily Stewart explains, most Americans can get $ 1,400 in stimulus checks:
Full checks will go to individuals earning up to $ 75,000 and couples earning up to $ 150,000 and will expire at $ 80,000 and $ 160,000 depending on your tax return for 2019 or 2020, depending on when the people last submitted their taxes. Previous checks have been discontinued with higher income, meaning that some people who have received checks in previous rounds will not receive them this time. However, for the first time, the legislation provides for controls for adult relatives such as students and people with disabilities.
Biden signed the bill on Thursday and many people reported that weekend that they had received their checks by direct deposit. A number of households said they were seeing full deposits as early as Friday – just one day after the law was signed.
The Internal Revenue Service announced on Friday that more rounds of stimulus checks will be deposited into bank accounts and mailed in the form of checks or debit cards over the next few weeks. The agency also said people can track the status of their checks through the Get My Payment portal.
Many Americans plan to use the checks to pay for essentials
The New York Times reports that Johanna Suarez, a Houston Community College student who was eligible for her first stimulus check because adult loved ones can get it for the first time, received a check for $ 1,400 on Saturday’s books to buy and pay for a dental procedure.
Suarez’s plans are fairly representative, according to a budget impulse study by the Census Bureau from February 17 to March 1.
As part of the ongoing coronavirus survey, the agency asked its Household Pulse survey pool which people who recently received a check had it issued – or who did not receive one during the survey period, what they are planning for their next check on.
Respondents were allowed to choose more than one answer to the question, and most said the money would be used to meet an essential need. The survey found that about 60 percent of people plan to spend at least some of their money on groceries, and about 45 percent plan to spend some or all of the money on housing – either rent or a mortgage. Other bills also had priority. 45 percent said the incentive would help with payments for utilities, and about 31 percent wanted to put money in credit cards or loans.
About 15 percent of respondents thought they could potentially save some or all of the money. Only 2.5 percent said some of the money would be used for recreational expenses.
There was some debate about who needed a economic review before the US bailout was passed, and some lawmakers feared that if too much of the American people received the checks, those with higher incomes would not issue these checks. These data don’t resolve that debate, but they do suggest that many Americans have an urgent need for that money – that people are waiting for these checks to cover the cost of basic necessities like food and shelter, and that they are will do. in fact, you output them.
The American rescue plan was extremely popular before it was passed – also because of the overwhelming popularity of stimulus checks: a December 2020 poll by Vox / Data for Progress found that 75 percent of likely voters wanted stimulus checks to be prioritized in the EU will be drafting the bill.
Checks were included, and in a March 5-7 poll, Data for Progress found that nearly 70 percent of likely voters supported the bill. That group of supporters included 54 percent of Republicans. According to the more recent poll, respondents named the provision of stimulus checks as one of their best aspects: 78 percent of voters supported the idea of $ 1,400 checks.
It remains to be seen whether positive perceptions of the law remain constant over time, but the sense of efficiency that the fast delivery of payments creates may prove helpful to Democrats at a time when distrust of the federal government is widespread is common.
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