Third stimulus check news summary: 16 March 2021
US stimulus check news: live updates Tuesday 16 March
Headlines:
- President Biden pledges to reach 100 million stimulus check payments within 10 days (read more)
- Research suggests that 58% of stimulus check money will be spent on food
- IRS confirmed that millions have already received new child tax credit
- Biden and VP Harris begin "Help is Here Tour" to mark passage of stimulus bill
- Treasury and Internal Revenue Service officials confirm that $1,400 checks have started to arrive in accounts (read more)
- Nearly 160 million US households will receive $400 billion in direct payments of $1,400 per person
- The $1,400 stimulus checks will be sent to individuals earning up to $75,000 and married couples earning up to $150,000
- You can track the status of your payment using the IRS Get My Payment Tool.
- Wells Fargo, Chase and Navy Federal Credit Union have said that stimulus check money will be withheld until 17 March (read more)
- US covid-19 cases/deaths: 29.5 million/536,406 (live updates)
Further related reading:
Stimulus funds arrive at major US banks today
The Internal Revenue Service has confirmed that the settlement date for the first wave of $1,400 stimulus payments will be done by direct deposit on Wednesday, Nacha, the organization that oversees the ACH Network payment system, announced on its web site.
The banks will receive the funds at 8:30 a.m., a time set by the IRS, and banks and credit unions must make the funds available to account holders 30 minutes later at 9:00 a.m.
"Regardless of when payment files were sent and received, settlement of the funds for the payments will occur at 8:30 a.m. ET on Wednesday, March 17, exactly as instructed by the IRS. This is literally the moment in time when the money will be transferred from the government to banks’ and credit unions’ settlement accounts at the Federal Reserve. There is no mystery where the money is from the time the first payment file was transmitted on Friday, March 12 to when all recipients will have access to the money on Wednesday—it is still with the government".
IRS agrees to shield some stimulus checks from debt garnishment
The IRS has agreed to not seize the stimulus checks of citizens who have outstanding federal tax debts. "The IRS has agreed to exercise its discretion...to refrain from offsetting [stimulus payments] to satisfy federal tax debts. It has committed to doing so as quickly as practical," National Taxpayer Advocate Erin Collins explained in a blog post.
The move will not protect individuals who may have other debts such as unpaid state taxes or overpayments of certain federal benefits.
US retail sales down 3% in February
US retail sales fell more than expected in February amid bitterly cold weather across the country, but a rebound is likely as the government disburses another round of pandemic relief money to mostly lower- and middle-income households.
Retail sales dropped by 3.0% last month, the Commerce Department said. But data for January was revised sharply up to show sales rebounding 7.6% instead of 5.3% as previously reported. Economists polled by Reuters had forecast retail sales falling only 0.5% in February.
President Biden to hold press conference next week
Joe Biden will hold his first press conference as US President on Thursday 25 March, his press officer Jen Psaki has confirmed. Biden will take questions from the media 64 days after taking office, the longest any president has waited before attending the press.
How long does it take to receive my unemployment benefits after filing a claim?
States may take longer to implement extended federal unemployment benefits
Prior to the pandemic states typically were able to get unemployment compensation to recipients within a few weeks of a claim being properly filed.
Read more:
Biden open to filibuster reform
President Joe Biden on Tuesday said he supports changing the Senate's filibuster rule by bringing back the talking filibuster, requiring a senator who wants to block legislation to hold the floor without taking a break. It's the first time the President has expressed support for any changes to the Senate's legislative filibuster rule, which requires 60 senators to vote to end debate on a bill.
The filibuster was intended to ensure bipartisan support for legislation and prevent a tyranny of the minority but has come to represent the opposite. One senator can now hold up legislation or block appointments anonymously at no personal political cost until a filibuster is broken.
Calculate what the enhanced child tax credit means for your family
One of the main items in the American Rescue Plan that had people talking were the $1,400 direct stimulus payments. However families with children stand to get a lot more out of the expansion of the Child Tax Credit provision in the bill.
Families are set to receive a $3,000 annual benefit per child ages 6 to 17 and $3,600 per child under 6 in the tax year 2021. Half of the tax credit will be paid in the form of monthly advance payments starting in July. The remainder of the fully refundable credit families can claim when they file their taxes in 2022.
$1,400 third stimulus check: where can I cash my payment?
How to cash a third stimulus check without a bank account
Millions of Americans don’t have a bank account and are expecting a $1,400 stimulus check. If you are one, here are some options to cash your check.
Read more:
Some unemployment benefits may be delayed
President Joe Biden and the Democrats did a full court press to pass the $1.9 trillion covid-19 relief bill before unemployment benefits ran out 14 March. Even though they came in under the wire, some recipients of jobless aid may see their payments disrupted.
Just like in December when Congress agreed to extend unemployment benefits under the CARES Act, the bill was so close to the cutoff even if former President Trump had signed the bill on time there would have been difficulty getting the payments out on time in some states. States need several weeks to tweak their computer systems and account for the changes. In some states the extended unemployment aid may not arrive until mid-April or later.
Biden makes first stop on stimulus package promotional tour
President Joe Biden made his first stop on a “Help is Here” tour in Chester, Pennsylvania, just outside Philadelphia, on Tuesday to tout the economic stimulus plan passed by Democrats last week. Biden visited the Smith Flooring company to highlight how the provisions covid-19 relief package will help lift small businesses hurt by the pandemic.
The flooring company recently qualified for a federal Payment Protection Program (PPP) loan under an action taken by the president targeting businesses with 20 or fewer employees. Biden last month opened a two-week window during which only small businesses could seek PPP loans.
Keep your stimulus check safe from scammers
The Federal Trade Commission provides some handy advice on how to keep you safe from thieves trying to steal your stimulus check.
Biden pitching benefits of stimulus package to America
US President Joe Biden is heading out across America to keep up the sales pitch on his American Rescue Plan, and claim credit for the massive and mostly popular covid-19 relief package. He has vowed not to make the same mistake as Obama did a decade earlier, failing to showcase the massive economic stimulus package at that time.
Additionally, he wants to get the American public behind him as he prepares to put forth the next item on his legislative agenda, an infrastructure investment bill. He will try to show Americans there is more the government can do to make their lives better.
Unemployment tax waiver could save millions a tax surprise
Thanks to a provision introduced as part of the American Rescue Plan, Americans that were unemployed for part, or all, of 2020, may see their tax bill reduced. Unemployment benefits are taxed like regular income but having the taxes withheld from the weekly payments is voluntary, which can lead to an unpleasant surprise when it comes time to file.
However, the bill included a provision that could see taxes waived on first $10,200 of unemployment benefits for individual taxpayers, and $20,400 if you’re married filing jointly. But what if you already filed your 2020 income tax return? The IRS says you should wait for further guidance and not file an amended tax return just yet.
Your $1,400 stimulus check may not be safe from debt collectors
The latest round of $1,400 direct stimulus payments that started going out over the weekend are open to being seized by private debt collectors. Over the course of the pandemic many possible recipients may have run up debts to cover expenses which are now overdue. If a company has obtained a judgment against the debtor for an unpaid credit card or medical bill, that company could be waiting to snatch the money when it arrives.
Lawmakers are hurriedly trying to fix the problem that couldn’t be done at the time they passed the bill authorizing the payments. Due to the procedural rules that were used to pass the legislation quickly and with a simple majority in the Senate the measure that had been attached to the previous payments could only be added on later.
Pending stimulus check funds to be available Wednesday morning
There's been some confusion lately as to when people will have access to their cash from the third round of direct stimulus payments. Some recipients saw "pending" action relating to the payment they are to receive in their bank accounts this weekend. Which caused an outburst of anger as customers assumed the banks were holding onto the funds.
However the IRS in a statement on Friday had warned that this might be the case until the official payout date, “Some Americans may see the direct deposit payments as pending or as provisional payments in their accounts before the official payment date of March 17," the statement read. Wednesday the payments will be released to the banks at 8:30 am ET, and the funds should be available to customers after 9:00 am.
US President Joe Biden exits the Oval Office at the White House before boarding Marine One on Tuesday.
Biden, traveling to Pennsylvania, is fanning out across the country along with Vice-President Kamala Harris and their spouses to highlight the benefits of his $1.9tn coronavirus relief bill, which includes stimulus checks for qualifying Americans, funding for covid-19 vaccines, and government loans helping businesses to stay afloat.
(Photo: EFE/EPA/ERIN SCOTT / POOL)
IRS Tax Return: what to do to claim missing stimulus check?
How to claim your missing stimulus check on your 2020 tax return
Millions people didn't receive either the first or second stimulus check, despite qualifying. If you were one of them, don’t despair. When you file your 2020 tax return you can claim yours.
More info:
$1,400 third stimulus check: are dependents eligible?
Information on dependents' stimulus-check eligibility
As part of the $1.9tn coronavirus relief bill signed into law by President Joe Biden on Thursday, qualifying Americans will get a stimulus check of up to $1,400, with US households also able to claim additional payments for dependents.
Full details:
Third stimulus check: when will Wells Fargo, Chase Bank & Bank of America release it?
When will the big banks pay out the stimulus checks?
After President Joe Biden signed the $1.9 trillion American Rescue Plan into law on Thursday, the IRS wasted no time in starting to disburse the first round of $1,400 stimulus checks to some of the 160 million Americans entitled to the payment.
However some of the nation’s biggest banks say they were not able to process them straight away, delaying the vital support for millions. The official payment date for the $1,400 stimulus checks has been established as 17 March, but the likes of Wells Fargo and Chase have faced heavy criticism for not releasing those payments already being deposited by the IRS this weekend.
Read more:
Stimulus bill charm offensive continues in Pennsylvania
For much of this week President Biden VP Harris and other top White House officials will be travelling the country looking to celebrate the passing of the American Resuce Plan. Biden has previously suggested that he does not believe Obama made a big enough deal of the stimulus bill that was passed in the aftermath of the recession, and Biden appears determined to avoid making the same mistake.
It sould be a pretty easy sell for the Democrats and the nationwide support for the bill has been strong. With the $1,400 stimulus checks and boosted Child Tax Credits included to get thousands of dollars worth of relief out to American families, a recent study found that three-quarters of Americans support the bill.
Big banks to distribute stimulus checks from Wednesday
The likes of Wells Fargo & Co., JPMorgan Chase & Co. and Bank of America Corp. have confirmed that they will begin to send out the third stimulus checks to their customers on Wednesday.
The banks will not officially receive the cash until 8:30 a.m. in New York on Wednesday. From there, banks and credit unions are instructed to make the $1,400 direct payments available to US account holders by 9 a.m. local time.
Amy Bonitatibus, a spokeswoman for JPMorgan, said in a statement: “When we receive the money from the IRS on Wednesday, we will immediately deposit it into our customers’ accounts."
Calls for Child Tax Credits to be extended indefinitely
Policital commentator Bill Kristol, director at Defending Democracy Together, has called on BIden to make permanent one of the key inclusions from the new stimulus bill. The Child Tax Credit programme is completely revamped by the American Rescue Plan with more generous payments going to more people, and a monthly payment that more closely resembles the stimulus checks.
However as it stands the legislation only extends the new Child Tax Credit support for 12 months. There does appear to be a desire to keep the $3,600 of annual support beyond that period, and White House chief of staff Ron Klain said the administration would prioritise long-term solutions to combat childhood poverty.
Who will qualify for the Child and Dependent Care Credit?
Who will qualify for the Child and Dependent Care Credit?
The new stimulus bill provides lots of direct support for American families, but you could also be eligible for a tax reduction to help with the cost of childcare. The new stimulus checks, unemployment benefits and Child Tax Credits are all hoped to benefit working families.
As well as the direct support offered in the stimulus bill, there are other existing government programmes that could see parents given thousands of dollars worth of tax breaks. The Child and Dependent Care Tax Credit has been around for 45 years, but who will be able to receive the support?
Read more:
Stimulus bill aims at tackling poverty
One of the most worrying consequences of the pandemic and the related restrictions on businesses and individuals has been a widening of wealth disparity across the country. Biden pledged to address this trend when he got into office and his stimulus bill looks to get federal support to those in need.
The $1,400 stimulus checks are the quickest way to get money into the pockets of millions or Americans, but the improved Child Tax Credit and unemployment benefits programmes should also help boost the economy from the bottom up. The stimulus checks will begin to arrive this week but the tax credits seem unlikely to appear until July at the earliest.
Is the third stimulus check higher on money than the other two?
How much will the new stimulus check be worth to you?
President Joe Biden’s American Rescue Plan will provide around $400 billion for another round of stimulus checks to be sent to an estimated 160 million US households.
The president made a fresh round of one-off payments to citizens one of his campaign promises and pushing through the stimulus check was one of the cornerstones of his rescue package. However his team were forced to make some changes to the eligibility requirements to get the more generous stimulus checks through Congress.
Read more:
Greater stimulus support for small businesses under Biden's plan
Research group the Center for American Progress have compared the amount of support offered to small businesses under the new American Rescue Plan to that sent under the previous administration. As you can see, the emphasis is now much more focused on small businesses who are most likely to be struggling due to the pandemic.
This forms part of Biden's plan to address the most urgent economic issues, which are generally felt by small businesses and low-income households. To support the latter he has passed a round of $1,400 stimulus checks that will be more targeted that previous rounds, while the improved Child Tax Credit programme will provide recurring payments to those in need.
Update on stimulus check killing from local police
Malik Halfacre, 25, was arrested Sunday evening according to a spokeswoman for the Indianapolis Metropolitan Police Department after a shooting spree that left three adults and a child dead. It is thought that the argument began after a dispute over how the new stimulus check payment should be divided in a family.
Deputy Chief Craig McCartt said of the tragic incident: "There was an argument there that escalated to the point where he pulled out his weapon and started shooting everyone there in the home."
Wendy Johnson, a close family friend of one of the victims, told reporters: "[Halfacre] wanted some of Jeanettrius’ tax money, stimulus money,"
Second stimulus check bump fades in February
The second round of stimulus checks was credited with providing a much-needed boost for the US economy in January but it seems that the benefit had largely faded out by March. The big 8% increase in January was followed by a 3% increase in consumer spending, the third-largest drop of the pandemic so far.
The $1,400 stimulus checks that are being sent out now should do even more to boost the economy but there are some concerns that the highest-earning recipients are more likely to save the money than to spend it.
$3000/$3600 child tax credit per child: can I apply?
Who can apply for the $3000/$3600 child tax credit?
After a revised stimulus relief bill eventually made its way through Congress, families are considering the additional financial assistance that is coming their way. The $1,400 stimulus checks have already started to be sent out, but you may have to wait a bit longer to get the new-look Child Tax Credit (CTC).
President Joe Biden’s $1.9 trillion American Rescue Plan includes provisions that restructures CTC, effectively doubling the size of the existing credit and providing an extra $125 billion. The eligibility requirements has also been tweaked to make more people eligible for the support.
Read more:
WATCH: Biden makes 100 million stimulus check pledge
The Biden administration will aim to distribute the first 100 million $1,400 direct payments in just ten days as he looks to kickstart the economic response to the pandemic. The American Rescue Plan was the first major piece of legislation from President Biden and represents a key priority for the Democrats.
However the Republicans argue that elements like the stimulus checks are not targeted enough to be an effective use of the money, and claim that the economy is already beginning to recover.
New study from Bank of America shows stimulus check intentions
The $1,400 direct payments will be saved by nearly 80% of high-income recipients, according to research carried out by the Bank of America. The Democrats were forced to adjust the income thresholds to exclude some of the higher earners from previous rounds of stimulus checks in an attempt to make the support more targeted.
The plan for the new stimulus check varies greatly depending on income levels. The lowest-eanring groups expects to spend about three-quarters of the money on housing costs, neccessities and paying off outstanding debts.
Biden heads to Pennsylvania to promote stimulus package
Ahead of the President's trip to Pennsylvania, one single mother speaks of the importance of the stimulus checks that are included in the American Rescue Plan. The majority of the $1,400 payments are expected to arrive in the next ten days and will be a vital form of support for millions.
Although they are commonly refered to as stimulus checks, for many people they are a much-needed form of financial support to see them through the worst of the pandemic.
Child tax credits will be available to 90% of Illinois children
Providing short-term economic relief was a key aim of Biden's new stimulus bill and it seems like the reformed child tax credit provision will do just that. The support will be made available in the form of a monthly direct deposit and the top entitlement is upped considerably, to up to $3,600 for children under six.
Rep. Lauren Underwood is optimistic about the positive impact that the American Rescue Plan will have on her constituents in Illinois. Child tax credits should help tackle the dangerously high levels of childhood poverty in the US, with over 9 million children currently experiencing food poverty.
Third stimulus check: which banks are not releasing it yet and why?
Which banks are withholding stimulus check payments and why?
Around 160 million Americans are believed to be eligible for the $1,400 direct payments and many have been desperately awaiting further support as the covid-19 pandemic has shaken their financial foundations to the ground. However, it has been suggested that some of the nation’s biggest banks are in less of a hurry to hand over said money.
"The goal is to get these payments out at fast as possible," stated one IRS official after Biden put pen to paper last. But there could be a delay depending on which bank you are with as some said they would not be doing any processing over the weekend, delaying the distribution of the stimulus checks by days.
Read more:
VP Harris in Nevada to promote stimulus bill
Less than a week after Congress passed the American Rescue Plan and key members of Biden's team are travelling the country to speak about the benefits of the $1.9 trillion package. The bill provides direct support for an estimated 85% of Americans, including through $1,400 stimulus checks, extended unemployment benefits and a more generous child tax credit.
Sperling to oversee stimulus check distribution process
With $1.9 trillion of federal funding included in the package, President Biden is keen to make sure that every dollar goes to support those in need and stimulate the economic economy. To do so he has appointed Gene Sperling to oversee the implementation of the American Rescue Plan, which includes those $1,400 stimulus checks.
This will be particularly crucial at the moment because the IRS, the body in charge of sending out the payments, is also in the middle of a busy tax season. There are concerns that this could slow the distribution.
“We have to prove to the American people that their government can deliver for them, and do it without waste or fraud,” Mr. Biden said upon announcing the appointment.
Biden aims to send out 100 million stimulus check payments in just 10 days
After waiting months to get the American Rescue Plan passed by Congress, President Biden is eager to get the much-needed federal funding out to the people as quickly as possible. The package includes money to improve the speed of vaccine rollout as well as the long-awaited $1,400 stimulus checks.
Biden and VP Harris are to travel the country in the coming days to speak about the benefits of the new stimulus bill, which is a flagship piece of legislation so early in Biden's presidency. For many, the $1,400 stimulus checks will be arriving at the same time.
New stimulus bill could provide stock market boost
Financial experts are predicting a surge in trade activity as the distribution of the third stimulus checks continues. The $1,400 direct payments are expected to bring more capital into the markets and rally prices.
Back in January, the introduction of the $600 stimulus checks was pointed at as a possible cause for the staggering price increase enjoyed by so-called 'meme stocks', like GameStop and Blockbuster Videos.
Mark Haefele, chief investment officer at UBS Global Wealth Management, said that the new stimulus package could see a "rotation out of tech and growth stocks into cyclical areas of the market has further to run” and he recommends that investors “tilt their stock exposure to sectors that are likely to benefit from higher growth and a steeper yield curve."
Stimulus check argument reportedly led to four killed
The motive of a shooting that has left four people dead, including a child, is being pinned on an argument over (and one person’s alleged entitlement to) stimulus money.
The shooting took place in Indianapolis this past Saturday. Fox 59, who had a detailed rundown of the incident, said that suspect Malik Halfacre approached Jeanettrius Moore about his belief that he should get half of her stimulus check. Moore is the mother of two young daughters, one of whom she shares with Halfacre.
Full story:
How Biden stimulus plan could break China trend
For decades, China's economy has grown much faster than America's. That trend is likely to be broken in 2021 as the US recovery from the pandemic gains momentum.
Economists are swiftly upgrading their US growth forecasts as Covid vaccinations accelerateand after Washington enacted a $1.9 trillion stimulus package that is far larger than many thought possible just a few months ago.
Full story:
The US-China stimulus spin
This will be an interesting story line to watch for in the coming days and weeks as the ripples of a stronger US economy are felt.
Biden's stimulus roadshow
US President Joe Biden is joining top messengers already crisscrossing the country to highlight the benefits of the massive covid-19 rescue plan. In a bid to waste no time in the promotion of the $1.9 trillion relief plan, Biden is now looking for building momentum for the rest of his agenda and anxious to avoid the mistakes of 2009 in boosting that year’s recovery effort.
Even veterans of former US President Barack Obama’s administration acknowledged that they did not do enough at the time to showcase their massive economic stimulus package.
Biden's stimulus plan could transform US poverty
'In some ways, the credit resembles much debated proposals to set up a universal-basic-income program, which would send cash to families every month to help them get by. Such a program never seemed possible in the United States, but lessons from the 2008 financial crisis, the Trump Presidency, and the pandemic have changed what policymakers are willing to try.
“It signals a turn in the way that we approach alleviating poverty and supporting the unpaid care work of women that makes the economy move."
Sheelah Kolhatkar investigates how this new bill could really change the way that poverty in the US is addressed.
Shots in arms and money in pockets. That's important.
The American Rescue Plan is already doing what it was designed to do: make a difference in people's everyday lives. And we're just getting started.
Third stimulus check calculator: how much for adults, kids & couples?
Stimulus check calculator
After President Joe Biden signed the American Rescue Plan into law, stimulus payments began going out to American families.
Find out how much you can expect.
Stimulus package keeps states in check
The American Rescue Plan Act includes an important and novel provision: for every dollar that a state government spends on net tax cuts, it will lose a dollar of the federal fiscal aid it receives from the Act’s Coronavirus State Fiscal Recovery Fund. That’s sound policy.
Read the analysis from the Center on Budget and Policy Priorities.
Stimulus bill saving jobs
President Biden signed the American Rescue Plan the day after it was passed by Democrats in Congress. That same day American Airlines canceled a planned furlough of 13,000 employees set to take effect 1 April.
Since then other companies have followed suit in canceling planned furloughs while other companies can now call employees back to work.
Currently the US is 9.5 million jobs short of pre-crisis levels, but some independent economic forecasts have projected the covid-19 relief bill may create as many as 7 million jobs.
$1400 third stimulus check: will I get it in the bank or in the mail?
Stimulus payments: bank or mail?
After taking months to get the package through Congress, President Joe Biden is not wasting any time to get the third round of stimulus checks out to those in need. The White House confirmed that the first wave of payments began landing in bank accounts over the weekend. And on Monday, Biden confirmed that his administration have set the target of getting 100 million payments sent in the following ten days.
Trying to get the money distributed in the middle of a busy tax season will be no mean feat, and the IRS will use three different methods to get the money out to the people. So will your stimulus check payment arrive in your bank account or in the mail?
Read more:
Gene Sperling to lead American Rescue Plan
President Biden has named Gene Sperling as the White House authority for overseeing the implementation of the American Rescue Plan, who will look to ensure that the $1.9 trillion goes to support those in need.
In a White House address Biden spoke of the need to make sure that "every last dollar" is accounted for, across the myriad health, economic and social programmes included.
The third stimulus checks, unemployment benefits and child tax credit systems are huge projects demanding hundreds of billions of dollars, and Sperling will be tasked with ensuring that the rollout is a swift one.
Child Tax Credit is "truly revolutionary"
Democratic Senator Richard Blumenthal is optimistic about the huge boost for the child tax credit provision included in the new stimulus bill, which he says will "lift countless kids out of poverty".
The new package will see the top amount increased to $3,600 per child per year, compared to $2,000 on the old system. Not only that but eligibility has been expanded to allow 69 million households to benefit from the Child Tax Credit expansion in 2021.
Not only that but the new bill allows for the vital support to be distributed in advanced, monthly payments, rather than as a refund/reduction on the annual federal taxes. Lawmakers hope this will provide a more consistent source of funding.
What triggers the Additional Child Tax Credit?
Additional Child Tax Credit - what's the trigger?
By enhancing the Child Tax Credit, child poverty could be reduced by nearly half in the United States. The enhanced credit will make the whole of the enlarged credit refundable in 2021. But taxpayers, on 2020 income-tax filings, can expect a more limited tax benefit under the current rules.
The current rules were established under the 2017 Tax Cut and Jobs Act which is in effect until 2025. The current Child Tax Credit provides families with a tax credit of $2,000 per child, but only $1,400 of that is refundable.
That refundable portion is known as the Additional Child Tax Credit but filers aren’t necessarily entitled to the whole of the refundable portion.
Stimulus checks could be ceased for debt
For the first time, stimulus checks could be taken by debt collectors to pay back outstanding debts without the recipient having any choice in the matter. In the past debt collection companies were not able to claim the federal payments from those in debt but that protection will no longer be available for all.
The rules vary for different types of loan, with those who have defaulted on student loan repayments not in danger of having their funds seized. However not all have this protection and some of the most vulnerable may be left without any stimulus check support from this round of payment.
Stimulus checks "are not sufficient"
The Census Bureau has published new data that suggests the majority of Americans will use the $1,400 stimulus check to pay for essentials like food and utilities, while many will use the money to pay off debts.
The study found that 58% of respondents will use the money for food, while 44% expect to use the cash to cover their utility bills. With Americans spending the money on such essential ongoings, Rep Bonnie Watson has suggested that the one-off payments are not sufficient considering how infrequently the bills are passed.
In 12 months, Congress has passed legislation providing stimulus checks worth a total of $3,200 for eligible Americans.
Stimulus check live updates: welcome
Good morning as we begin our live blog on Tuesday 16 March 2021.
We will be bringing you all the latest stimulus bill news throughout the day following confirmation that as the first batch of relief payments began hitting banks accounts over this weekend.
Stay with us for everything you need to know, including reactions and opinions to the developing situation.