A third round of stimulus checks, part of the Biden administration’s “American Rescue Plan,” was approved by the Senate on Saturday and looks likely to pass the House, after which it would head to the White House for Biden’s signature.
Use the calculator below to see how large a check you’ll receive. If you’ve already filed your 2020 taxes, the check will most likely be based on that income. If you haven’t, it will be based on your 2019 taxes.
The $1.9 trillion bill looks a little different from the legislation originally approved by the House. Provisions for increasing the minimum wage to $15 were struck down by the Senate parliamentarian, and the income eligibility for stimulus payments was narrowed.
Americans with income below a certain threshold — $75,000 for individuals, $112,500 for heads of household and $150,000 for couples filing jointly — will each receive $1,400 per person as a direct deposit or mailed check. Households will receive an additional $1,400 for each dependent claimed on their most recent tax filings.
What’s different this time
At $1,400 per individual, this will be the largest stimulus check yet for most Americans. The first round paid $1,200, and the second paid $600. Before the Georgia Senate runoff, Biden pushed for a $2,000 stimulus payment. His administration now considers the latest bill and the December checks to be part of the same round of stimulus, for a total of $2,000.
As with the last two payments, some Americans will get a partial check if their income is above the threshold. However, these amounts will phase out much faster than in the past two coronavirus relief bills. That means that some Americans who received money in the first two rounds of checks won’t get anything this time.
Stimulus check phaseout for single tax filers
The narrowed eligibility was a concession from Biden to moderate Democrats, whose votes were needed for passage of the bill in a closely divided Senate.
Unlike the first round of checks, dependents will get the same amount as adults. The first round gave just $500 per dependent vs. $1,200 for adults. The second round gave $600 to everyone.
In addition to the stimulus checks, the massive economic package extends unemployment benefits into September, increases the child tax credit, and reserves billions for state and local aid, coronavirus testing and vaccinations, and other provisions such as rental aid and food assistance.