A third economic relief payment should reach the bank accounts of millions of Americans, but the timeline remains somewhat uncertain.
(CBS Detroit) — A third stimulus check is a key component of President Biden’s $1.9 trillion economic relief package. The $1,400 direct payment has support from both Democrats and Republicans and is likely to remain in the final version of the bill. The American Rescue Plan, in its current form, also includes higher unemployment benefits, an improved child tax credit and added aid for millions of Americans facing economic issues brought on by the ongoing COVID-19 pandemic. While a third check seems destined for bank accounts, the actual timeline is still a little unclear. The administration’s goal is to sign the American Rescue Plan into law by March 14. That is also when the current $300 federal unemployment benefit bonus expires. Assuming President Biden is able to sign the relief package on March 14, direct deposits would likely start the week of March 22, with checks beginning to arrive the week of March 29. But the House seems set to pass the American Rescue Plan this week without changes. House Speaker Nancy Pelosi recently reiterated her more aggressive timeline, stating that the bill could pass by the end of February. The Senate could then pass it next week on a straight party-line vote. If they do, the stimulus package could leave Congress by March 5 and be signed into law on March 8. Direct deposits would start arriving in bank accounts by March 15, and checks would start being mailed on March 22. Either timeline could be extended for any number of reasons. One possible speedbump for the next stimulus check is the ongoing disagreement over the $15 minimum wage. Because of budget reconciliation, Democrats can sidestep the filibuster in the Senate and pass the stimulus package with a simple majority. That means 51 votes instead of 60, with Vice President Kamala Harris casting the tie-breaker. But Democratic Senator Joe Manchin of West Virginia believes that more than doubling the federal minimum wage (currently $7.25 per hour) would pose an undue burden on rural states. He has instead proposed raising the required hourly rate to $11. Kyrsten Sinema, a Democratic Senator from Arizona, has also pushed back. Without Manchin and Sinema’s votes, the American Rescue Plan is unlikely to make it through the Senate.
