WASHINGTON (AP) — The White House says the $1,400 direct payments for most Americans funded by the American Rescue Plan will start showing up in bank accounts as early as this weekend.
Press secretary Jen Psaki says the government will make the first direct deposits this weekend. She says payments will continue throughout the next several weeks.
“We want to move as fast as possible,” tweeted White House chief of staff Ron Klain. He added, “We will hold our celebration of the signing on Friday, as planned, with congressional leaders!”
The relief plan also extends $300 per week emergency unemployment benefits into early September.
President Joe Biden signed the $1.9 trillion American Rescue Plan in the Oval Office on Thursday.
U.S. residents who make less than $75,000 annually will get the full $1,400 stimulus amount, but that amount will decrease as income level rises.
Besides the $1,400 direct payments to individuals, the plan includes money to help distribute coronavirus vaccines, provide relief to homeowners and renters, help reopen schools, provide aid to state and local governments, and an expansion of the child tax credit, among other features.