Biden says $1,400 stimulus payments can start going out this month
President Biden said Saturday that the Senate passage of his $1.9 trillion COVID relief package means the $1,400 direct payments for most Americans can begin going out later this month.
Driving the news: The Senate voted 50-49 Saturday to approve the sweeping legislation. The House is expected to pass the Senate's version of the bill next week before it heads to Biden's desk for his signature.
The big picture: As part of the legislation, individuals who make less than $75,000 or heads of households who make up to $112,500 will qualify for the $1,400 payments. Couples who make less than $150,000 will get $2,800.
- Individuals who make between $75,000 and $80,000 and couples who earn between $150,000 and $160,000 will receive a reduced payment.
- Parents who qualify will get an additional $1,400 for every child claimed on their most recent tax returns.
What he's saying: "Everything that is in this package is designed to relieve the suffering and meet the most urgent needs of the nation and put us in a better position to prevail," Biden said following the Saturday passage of the bill.
- "This plan will get checks out the door, starting this month to the American people who so desperately need the help," he added.
- "The resources in this plan will be used to expand and speed up manufacturing and distribution of vaccines so we can get every single American vaccinated sooner rather than later."
- "I promised the American people that help is on the way. Today, I can say we've taken one more giant step forward in delivering on that promise."
The bottom line: "This plan puts us on a path to beating the virus. This plan gives those families who are struggling the most the help and breathing room to get through this moment. This plan gives small businesses in this country a fighting chance to survive," Biden said.