AS third stimulus payments roll out, American citizens are left wondering whether they will receive future payments to support them through the pandemic.
Tens of thousands of Americans signed a petition pushing for monthly payments, insisting that getting money directly into people's accounts is crucial.
How many stimulus checks will I get?
As the third stimulus check continues to hit the bank accounts and mailboxes of millions of Americans the attention now shifts on whether Biden's administration will approve the fourth payment and if there will be further deposits.
According to the Washington Post, a group of 10 Democratic senators is urging the president to include more stimulus payments in the next spending bill.
"As you prepare your Build Back Better plan for long-term economic recovery, know that we are ready to work with you in support of recurring direct checks," the senators wrote in a letter to Biden on Tuesday.
The senators include, senators Ron Wyden (D-Ore), Elizabeth Warren (D-Mass), Alex Padilla (D-Cali), Bernie Sanders (D-Ver), Michael Bennet (D-Col), Corey Booker (D-NJ), Edward Markey (D-Mass), Kristen Gillibrand (D-NY), Sherrod Brown (D-OH) and Tammy Baldwin (D-Wis).
As of February 2021, the unemployment rate in the US is at 6.2 percent and nearly 20 million Americans receiving weekly unemployment payments, according to the US Department of Labor.
An online petition, signed by more than 43,300 people, demands a fourth stimulus package for "struggling" Americans and claims that "recurring" checks are the only way "to recover from this crisis."
Who is eligible for each stimulus check?
American citizens earning less than $75,000 a year will receive the full $600.
Heads of household earning less than $112,500 and married couples filing jointly earning less than $150,000 are also due the full amount.
Checks will be distributed to "mixed-status" immigrant families — families where American citizens are married to immigrants without Green Card, an issue that lawmakers rectified from the first round of payments.
Children under 17 years old will also receive the same $600 payment as adults, but "child dependents" who are 17 years old will not.
No adult dependents, namely college students who are claimed as dependents by their parents, will qualify for the $600 checks, according to the Tax Foundation.
Seniors and disabled adults that claim dependency will also not be receiving a check.
When will I get my third stimulus check?
Biden's bill allows for the checks to be sent by the end of the year.
White House Press Secretary Jen Psaki has already confirmed that the checks will be sent as soon as possible.
She said: "We're doing everything in our power to expedite the payments and not delay them."
She went on to confirm that this is the reason why President Biden's name will not appear on the memo line "of this round of checks."
Instead, Psaki confirmed that the checks will be signed by a career official.
She added: "This is not about him, this is about the American people getting relief."
How much will I receive?
President Biden's Covid relief bill includes a round of stimulus checks worth $1,400 to get the US economy moving.
Neither of the two previous stimulus checks delivered in 2020 were considered taxable, and according to the IRS, the third check won't be taxable either.
″…the Payment is not includible in your gross income. Therefore, you will not include the Payment in your taxable income on your Federal income tax return or pay income tax on your Payment," the website read.
"It will not reduce your refund or increase the amount you owe when you file your 2020 Federal income tax return.”
The payment will also not impact eligibility for federal government assistance or benefit programs.
Source: Read Full Article