When will you get the third $ 1,400 stimulus check proposed by Biden | The State

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It could take a few more weeks before the $ 1.9 billion coronavirus stimulus package proposed by President-elect Joe Biden, which includes a third round of $ 1,400 stimulus checks, is approved.

It is practically a fact that this third $ 1,400 stimulus check will be approved, as there is growing support among Republican legislators to send more money to Americans.

In fact, there is an 85% chance that a stimulus package will be approved in the first three months of 2021 that includes a stimulus check, predicted Hammond of Height Securities, a financial analysis firm.

Alec Phillips, Goldman Sachs Political Economist, thinks the package could be approved in mid-February or mid-March, according to CBS News.

Once the stimulus package bill passes through Congress, it must be signed by the president. After that, the IRS will distribute the money through direct deposit, mailed checks, and prepaid debit cards.

Taking the above into account, assuming that Congress passes a new stimulus package in mid-February, third-party stimulus checks could reach beneficiaries’ bank accounts by the end of February, in the best case.

On the other hand, if a stimulus package is approved until the end of March, people could receive their checks in early April.