AMERICANS may get their $1,400 stimulus check in less than a month as lawmakers will vote on the Covid relief bill next week.
The House and Senate are currently on a week long break, but are expected to get voting when they return.
The House of Ways and Means Committee passed the third round of checks last week, meaning that a vote from the House is expected on the week of February 22.
If the bill is passed and everything goes according to plan, Biden is set to sign it in March.
This means that the IRS could send the checks out just a few days later, with Americans receiving checks next month.
Last week, Nancy Pelosi told reporters the House hopes to green-light the $1.9trillion stimulus package "as soon as possible" before the March 14 deadline.
The House Speaker said she hopes it will be, "by the end of February so we can send it to the president's desk before unemployment benefits expire."
She began her weekly briefing saying it had been "quite a week", before swiftly moving on to Joe Biden's brainchild, 'The American Rescue Plan.'
New legislation includes a $400-per-week federal unemployment supplement, the expansion of the eligibility criteria to the self-employed and gig workers, as well as an extension of the number of weeks benefits can be claimed.
"Yesterday, the chairman of the Federal Reserve stated that, 'The real unemployment rate is 10 percent, matching the worst point in the Great Recession," Pelosi explained.
New data shows that more than 20million Americans are currently receiving unemployment benefits – and experts have estimated up to 11 million people could lose welfare if the policy is not instated.
The new coronavirus relief bill also includes a gradual increase in minimum wage to $15 per hour, in a bid to boost the economy's recovery.
"We're very proud of that. As I've said, 27 million people will get a raise, 70 per cent of them women," she continued.
The proposal was approved as part of the bill by the House Education and Labor Committee this week after being championed by Senate Budget Committee Chair Bernie Sanders.
It is not clear whether this motion will pass, as Republican's have not been shy about their reluctance to spend large volumes of money after Congress approved a $900billion stimulus package in December.
The new measures are proposed to last until at least August 29, with President Joe Biden previously discussing an extension until September 30.
Stimulus checks are due to be distributed of up to $1,400 after the bill is passed in Congress.
Source: Read Full Article