White House press secretary Jen Psaki said Thursday that some eligible Americans will receive $1,400 direct deposit payments as early as this weekend as part of the $1.9 trillion stimulus bill signed by President Joe Biden.
Psaki, during a press conference held shortly after Biden signed the bill into law, said the Department of Treasury and Internal Revenue Service are “working hard to get relief payments out the door as fast as possible.”
Psaki revealed eligible recipients can “expect to start seeing direct deposits hit their bank accounts as early as this weekend,” adding that that’s “just the first wave.”
“Payments to eligible Americans will continue throughout the course of the next several weeks,” Psaki added.
In addition to $1,400 payments to individuals with annual incomes of less than $75,000 and families making less than $112,500, the bill includes $300-a-week unemployment insurance, an expansion of the child tax credit, and billions for rental and food assistance.
The bill only narrowly passed both chambers of Congress due to unified opposition from Republican lawmakers, who cast the bill as wasteful spending on longstanding liberal policy priorities. Not a single House or Senate Republican voted for the bill, while all but one Democrat supported it.
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Psaki said there will be a celebration of the bill’s passage on Friday featuring Democratic lawmakers from both chambers but no Republicans.
Source: Forbes – Business