If you’ve been waiting on the edge of your seat for a stimulus payment, you might not have to wait much longer.
The House of Representatives is voting on the $1.9 trillion relief package on Wednesday and President Biden said that when it passes, he’s ready to sign the bill. No Republicans in the House have thrown their support behind the bill, but it’s still expected to pass.
If passed, payments could hit bank accounts by as early as the weekend.
Here’s a breakdown of what you can expect if the bill passes:
- Make $75,000 or less? Part of a couple earning up to $150,000? (Remember: This is your adjusted gross income on your tax return, not your annual salary)
- You’ll get a $1,400 check
- Have kids between 6 and 17?
- You’ll get a child tax credit of $3,000 per child, paid out in instalments of $300 per month starting in July until the end of the year
- Have kids under 6?
- You’ll get a child tax credit of $3,600 per child, paid out instalments