Feb 24, 2021
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About this Deal
We are getting a better look at the outlines of the third stimulus check. The $1,400 payment is part of a $1.9 trillion stimulus package House and Senate Democrats are rushing to pass by the middle of March. Many of the details still need to settled with the third payment -- including who would qualify and when the IRS could start sending it out -- but we know enough about the shape of the third stimulus check that we can compare it to the first two rounds of payments to see what will look new and what will seem familiar.
To avoid a gap in federal unemployment payments that would expire March 14, Congress is rushing to finish the bill by that date. In addition to renewing unemployed worker benefits through August, the sweeping rescue bill is set to distribute $1,400 payments to individuals and dependents, add funding for COVID-19 vaccine distribution and possibly boost the federal minimum wage rate to $15 an hour.
The particulars around the first two payments are well known. The third check, not quite so much. From reading through the current version of the House bill (PDF), however, we have a good idea of what the final details of the third check could look like. Here's how the three checks are similar and different.
Stimulus checks, side by side by side -- and a wild card
While we know many of the proposed details around the third stimulus check, there is one wild card. The IRS is in the middle of tax-filing season, so it's unclear if the agency may not be able to turn around these third payments in a few days, as it did with the second stimulus payments, or if there could be a delay.
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