- The latest stimulus check update we have from the Biden administration and Congress is starting to suggest what the size and scope of the final $1.9 trillion stimulus package that President Biden has proposed will be.
- From there, we can make some deductions about how much most people will get when the new round of $1,400 stimulus checks starts to be distributed.
- Use the calculator below to estimate the size of your new stimulus check from the Biden administration.
While Americans continue to wait for the official stimulus check update they’ve been hoping for since the inauguration of President Joe Biden — that a third round of COVID relief payments has been approved and that they will now start to be sent out — newly released data strongly makes the case for the $1,400 stimulus checks that the Biden administration has proposed.
A new Morning Consult report explains that those new stimulus checks “would prevent unnecessary financial hardship and mitigate future economic risks,” especially since the $1,400 direct payments will especially be a boon for parents and low-income families. Moreover, the report also provides an indication that people will use these checks how they’re intended, by spending the money quickly and putting it back into the economy. Morning Consult’s data shows that Americans with annual household incomes of less than $50,000 spent almost 70% of the money they got from their second stimulus check already. And speaking of those checks, one question that might be on your mind right now is how big will your next one be?
Congress is still hashing out the details of the $1.9 trillion stimulus package proposed by President Biden that makes the third round of stimulus checks possible in the first place. That means the details aren’t yet final and could end up changing by the time Biden’s signature pen turns the thing into law. However, what we know so far — in terms of what the president has proposed, what Democrats have gotten behind, and the fact that Democrats are prepared to ram this through Congress without watering it down in order to win Republican votes — can help you make a pretty good guess about how much you’re getting with your new stimulus check.
To check the likely size of your next direct payment, this simple calculator from Forbes has you covered. Head over to that link, and then all you’ll need to do is scroll down and check the box asking whether you’ve filed your 2020 taxes yet, and what your tax filing status will be once you do. You’re also asked to specify how many dependents you have, and what your income was in 2020, and that’s it.
CBS News-YouGov poll:
83% support congressional passage of a new stimulus bill
64% approve of Biden's handing of the pandemic
61% approve of Biden's overall job performance
— Kyle Griffin (@kylegriffin1) February 10, 2021
Important to note: It’s worth stressing, again, that the details surrounding this new stimulus package are not yet final, though conditions seem to suggest that this is how everything will end up. As we laid out here, Democrats appear to have the votes necessary to send everyone who got a $1,200 stimulus check and a $600 check last year another stimulus check, this time for $1,400. There will be exceptions, though, depending on factors like your annual income.
At this point, it appears all but certain that the full $1,400 stimulus check will go to individuals with $75,000 or less in annual income, and joint-income households with $150,000 or less in annual income. The checks are phased out incrementally, above those income thresholds, and those joint-income households would also actually get $2,800 — tantamount to two $1,400 checks, for each of the two adults. Democrats have also signaled they want to add a $3,000-per-child benefit to the Biden stimulus plan, which would provide $3,000 for each child between the ages of 6 and 17, as a complement to the stimulus checks. Parents would also get $3,600 for every child under the age of 6.