Press secretary Jen Psaki says the government will make the first direct deposits this weekend, adding that payments will continue throughout the next several weeks.
“The Department of Treasury and the IRS are working hard to get relief payments out the door as fast as possible to the American people. People can expect to start seeing direct deposits hit their bank accounts as early as this weekend,” Psaki said during a Thursday press conference. “Payments to eligible Americans will continue throughout the course of the next several weeks.”
The $1,400 direct payments will be sent to individual Americans making $75,000 or less and married couples with incomes up to $150,000. The size of the check would shrink for those making slightly more, with a hard cut-off at $80,000 for individuals and $160,000 for married couples.
President Joe Biden signed the $1.9 trillion American Rescue Plan in the Oval Office on Thursday.
“This historic legislation is about rebuilding the backbone of this country,” Biden said during the signing.
White House Chief of Staff Ronald Klain says the bill, which was originally expected to be signed Friday, arrived late Wednesday night.
Klain shared that the Biden Administration wants to “move as fast as possible” with getting relief to the American people.
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.