The White House announced on Thursday that eligible Americans would begin receiving $1,400 stimulus checks as early as this weekend when President Joe Biden signed the $1.9 trillion coronavirus stimulus package, called the American Rescue Plan, into law.
According to Jen Psaki, White House Press Secretary, payments will appear as direct deposits.
“People can expect to start seeing direct deposits hit their bank accounts as early as this weekend,” Psaki said. “This is of course just the first wave.
“Payments to eligible Americans will continue throughout the course of the next several weeks,” she added.
A single taxpayer will receive a direct payment of $1,400, while a married couple filing jointly will receive $2,800. Individuals earning up to $75,000, as well as married couples earning up to $150,000, will be eligible for the maximum amount.
People who make more than those amounts are also eligible for a smaller direct payout, with a strict cut-off of $80,000 for individuals and $160,000 for married couples.