Congress is set to pass new stimulus checks — here's when to expect yours

Doug Whiteman
Congress is set to pass new stimulus checks — here's when to expect yours
Congress is set to pass new stimulus checks — here's when to expect yours

A day that's been a long time coming may finally be here.

Senate Majority Leader Mitch McConnell (pictured) says congressional leaders have reached agreement on a new, $900 billion coronavirus rescue package that includes a second round of direct aid payments to Americans.

Yes, "stimulus checks."

"More help is on the way," McConnell announced during a speech on the Senate floor on Sunday. Votes on the bill are expected on Monday.

You could get your money within weeks, but you may find the amount disappointing — and will need a plan to find other relief on your own.

Counting on another $1,200? Sorry

WASHINGTON DC - APRIL 2, 2020: United States Treasury check with US currency. Illustrates coronavirus stimulus payment
Jason Raff / Shutterstock

The new aid bill includes money for struggling businesses, $300 a week in bonus unemployment benefits, and fresh direct payments to help struggling U.S. households and stimulate the weak economy.

How much will most people get? $600 — half the $1,200 per person the IRS distributed the first time, about eight months ago.

Americans have been eager for more government cash, especially as the out-of-control pandemic prompts new lockdowns and layoffs. Nearly 6 in 10 (57%) say they're in a financial squeeze from the coronavirus, according to a recent survey from credit bureau TransUnion.

Critics say $600 isn't enough; Democratic Congresswoman Ayanna Pressley of Massachusetts even calls it an "insult." But President-elect Joe Biden said last week that Americans should think of the checks as merely a "down payment."

What if you need more than $600 right now?

If you're straining to make ends meet and need more than a $600 payment right now, consider these ways to pull together more money on your own:

  • Slash your spending. Dump any subscription services you're not using. Do more of your own cooking and stop ordering carryout so much. And download a free browser add-on that will save you money every time you shop online, by instantly checking for better prices.

  • Cut your debt down to size. If you’ve been leaning on your credit cards during the coronavirus crisis, you’re probably piling on a lot of interest. Tame your credit card debt — and make it go away more quickly — by rolling your balances into a single debt consolidation loan at lower interest.

  • Trim your insurance costs. As Americans have cut back on their driving this year, many car insurance companies have lowered their rates. If your insurer won’t cut you a break, it’s time to shop around for a better option. You also might save hundreds by comparing rates to get a better deal on your home insurance.

  • Refinance your mortgage. Mortgage rates are at record lows, and refinancing your existing loan could provide huge savings. Mortgage tech and data provider Black Knight says 19.4 million U.S. homeowners could cut their monthly house payments by an average $308 per month through a refi.

When can you expect your check?

Pretty, young woman checking her mailbox for new letters
l i g h t p o e t / Shutterstock

A survey from the U.S. Bureau of Labor Statistics found that close to 60% of Americans used their first stimulus checks to cover basic expenses including groceries and utility bills.

Some also invested the money, according to the survey, or used it for other, unspecified purposes. Those may have included buying affordable life insurance— sales of life insurance policies have surged this year in the shadow of the pandemic.

If Congress can pass the new COVID rescue package quickly and get it signed by outgoing President Donald Trump before Christmas, the money could start flowing shortly after New Year's, allowing for holiday season absences at the IRS.

Treasury Secretary Steve Mnuchin told reporters in August that payments could start going out a week after a new aid bill is signed.

"I can get out 50 million payments really quickly, a lot of it into people's direct accounts," Mnuchin said.

The first recipients would be taxpayers whose bank information is already on file with the tax agency, including those who received their last stimulus payment by direct deposit.

Latest Stories

  • GOP congressman says he will not take the Covid vaccine because he’s ‘an American’

    ‘I have the freedom to decide if I’m going to take a vaccine or not and in this case I am not going to take the vaccine,’ Congressman Ken Buck says

  • Trump campaign will again ask U.S. high court to upend election results

    President Donald Trump's campaign said on Sunday it would again ask the U.S. Supreme Court to overturn results from the Nov. 3 election, its latest long-shot effort to subvert the electoral process and sow doubt over the legitimacy of President-elect Joe Biden's victory. In a statement issued by the campaign, Trump lawyer Rudy Giuliani said the campaign had filed a petition asking the high court to reverse three rulings by a Pennsylvania state court interpreting the state's rules for mail-in ballots. “The Campaign’s petition seeks to reverse three decisions which eviscerated the Pennsylvania Legislature’s protections against mail ballot fraud," Giuliani said in a statement.

  • Report: U.S. to announce new criminal charges in Pan Am Flight 103 bombing

    On Monday, outgoing Attorney General William Barr is expected to announce criminal charges against Abu Agila Masud, a former Libyan intelligence officer, in connection with the 1988 bombing of Pan Am Flight 103, three U.S. officials familiar with the matter told CNN.Masud is believed to be in Libya, and CNN reports that U.S. officials are talking with their Libyan counterparts about how to take him into custody.Flight 103 was en route from London to New York when a bomb blew the plane up over Lockerbie, Scotland. The terrorist attack killed 270 people, with a majority of the victims from the United States. Monday is the 32nd anniversary of the bombing.When Barr served as attorney general during the George H.W. Bush administration, the United States charged two Libyan men in the bombing: Abdelbeset Ali Mohmed al Megrahi and Al Amin Khalifah Fhimah. After Libya refused to extradite the men to the U.S., it was finally agreed upon that they could be tried by a Scottish court in the neutral Netherlands.Fhimah was acquitted and Megrahi was sentenced to 27 years; after being diagnosed with cancer, he was released from prison in 2009 and died three years later. In 2003, former Libyan leader Moammar Ghadafi accepted responsibility for the bombing, but claimed he did not order the attack.More stories from theweek.com 7 feel-good cartoons about the COVID vaccine breakthrough 5 insanely funny cartoons about Trump's election-fraud failure The Arab World's most important man?

  • Kuwait's key reformer, son of late emir, dies at 72

    Kuwait’s Sheikh Nasser Sabah Al Sabah, the eldest son of the late emir, who emerged as an influential reformer in the oil-rich Gulf sheikhdom, died on Sunday, the country’s state-run news agency reported. Sheikh Nasser, who held various government posts over the years including minister of defense and deputy prime minister, had been considered a top contender for crown prince following the death in September of his father, the 91-year-old Sheikh Sabah Al Ahmad Al Sabah. Although he drew popular support for his ambitious mega-projects and anti-corruption efforts, he was passed over for his uncle, Sheikh Meshal Al Ahmed Al Jaber Al Sabah, a more cautious choice of heir apparent at a turbulent time for Kuwait’s politics and the wider region.

  • Yemen doctors call for urgent help to save life of conjoined twins in need of surgery

    Conjoined twin boys who were born in war-torn Yemen on Wednesday are in “critical condition”, according to their doctors who are urgently appealing for help. The boys were born in the Yemeni capital of Sanaa, which since 2014 has been controlled by Iran-backed Houthi rebels. Over years of war and air blockades, like much of the rest of the country, it’s economy and healthcare system have been destroyed. "An echocardiogram showed that each of the two children had their own heart, though the position of the heart of one of them is not normal," Majda al-Khatib, the director of Al-Sabeen hospital in Sanaa, told AFP news agency. She added that the hospital did not have the necessary equipment to accurately determine "which organs are connected". The war in Yemen has resulted in what the UN describe as the world’s biggest humanitarian disaster, with the country of 30 million plagued by conflict, starvation, disease and now coronavirus. The current conditions of hospitals in Sanaa make dealing with complex cases such as conjoined twins almost an impossibility. Making access to treatment more difficult, Sanaa’s airport is closed for commercial flights because of an air blockade imposed by the Saudi-led coalition, who have been waging war in Yemen against the Iranian-backed Shi’ite Houthis, since 2015.

  • Chaos at California mall after man shoots self

    Authorities said thousands were emotionally distressed, sheltering-in-place and calling home to tell families they loved them.

  • McConnell says deal reached on $900 billion virus relief bill

    Republican U.S. Senate Majority Leader Mitch McConnell said on Sunday that an agreement had been reached by congressional leaders of both parties on a roughly $900 billion COVID-19 relief bill.

  • Keep up the good work, Putin tells spy agency staff

    Russian President Vladimir Putin said the foreign intelligence service was exceptionally important for protecting the country, in comments made soon after it was accused by some of being behind a major hack on U.S. government departments. Speaking at an event commemorating 100 years since the founding of the SVR foreign intelligence service, Putin said the agency and other security services were a crucial guarantee of Russia's "sovereign, democratic, independent development." Some international cyber researchers have suggested that Russia's SVR foreign intelligence service may have been behind an unprecedented attack on U.S. government computer systems first reported by Reuters last week.

  • Incoming surgeon general says widespread coronavirus vaccination may not happen until 'mid-summer, early fall,' extending the timeline by months

    Health officials like Dr. Anthony Fauci have said widespread coronavirus vaccination could occur in April. Vaccine makers gave similar timelines.

  • Mexico's president says army to run Maya train project

    Mexican President Andrés Manuel López Obrador said Sunday the army will run the Maya train project and several airports, and use any profits to finance military pensions. The army is already overseeing construction on some parts of the controversial project, while private firms build the rest. López Obrador has already given the army more tasks than any other recent Mexican president, with military personnel doing everything from building airports to transporting medicine and running tree nurseries.

  • Emmanuel Macron told he's making a 'massive miscalculation' that UK will negotiate next year

    Emmanuel Macron has been accused of risking a no-deal Brexit by making the “massive miscalculation” that Britain will be forced back to the negotiating table in the new year. Downing Street believes Mr Macron is standing in the way of a deal because he is playing to his domestic audience ahead of elections in 18 months’ time. A deadline of 11pm Sunday night – set by MEPs for a deal to be agreed in order for it to be ratified by December 31 – passed without any conclusion to the talks. The UK has said it will not walk away from the negotiations while there is still time to reach an agreement. Negotiators believe Mr Macron is gambling on the theory that no deal will be so unpopular in Britain that Boris Johnson will cave in and accept Brussels’ current offer within weeks of leaving the single market and customs union on January 1.

  • Here's what Trump can and can't do with the $200 million he raised on election fraud claims

    "I can think of no other president who has set up a leadership PAC immediately after losing an election and begun fundraising for it furiously. This is entirely, entirely unique," Brendan Fischer, a campaign finance specialist at the Campaign Legal Center, told The Guardian in reference to President Trump, who has reeled in around $200 million after asking donors to back his fight to overturn the presidential election.Trump won't win that fight, especially after the Supreme Court got involved and the Electoral College sealed President-elect Joe Biden's victory, but the money is "basically going to be the vehicle for Trump's post-White House political operation," Fischer predicts.There are certain things he legally cannot do with the funds — for starters, the money can't be used to resolve any legal or financial problems he may face after leaving office, and it also can't support a potential 2024 presidential run. It can, however, lay the groundwork for that campaign, Fischer said. But the money would likely be most useful if it went to another candidate who would perhaps act as a successor of sorts. "It can potentially pay for rallies in support of another candidate," Fischer said. "It can be used to pay for ads that are run ostensibly independently of the candidate that he's supporting."Of course, that would mean Trump has to be interested in more than his own personal success. "Is he savvy enough as a political operator to use that money to essentially build a broad coalition in which he is the center and the doler-out of the money that could strengthen his political position?," asked Jennifer Victor, an associate professor of political science at George Mason University. "It's hard to say because his political movement so far has been so centered around himself." Read more at The Guardian.More stories from theweek.com 7 feel-good cartoons about the COVID vaccine breakthrough 5 insanely funny cartoons about Trump's election-fraud failure The Arab World's most important man?

  • South Korea reports record daily coronavirus deaths, raids

    South Korea recorded its highest daily death toll from the coronavirus, health authorities said on Monday, as a surge in infections strains the health system and prompted police raids on venues suspected of violating social distancing rules. As of midnight Sunday, there were 24 additional deaths, bringing the country's total to 698, the Korea Disease Control and Prevention Agency said. The recent surge in cases has confounded efforts to contain it and the country is running short of hospital beds, prompting debate over whether the government should impose stricter social distancing measures.

  • Biden’s niece avoids prison time for driving under the influence crash

    Caroline Biden’s arraignment was one day after 3 November’s presidential election

  • Jacinda Ardern says New Zealand has bought so many COVID-19 vaccines that it will give free doses to neighboring countries

    The prime minister says there will be "more than enough" COVID-19 vaccines for every New Zealander. Spare doses will go to Pacific nations.

  • 'Love Jihad' couple reunited in India as doctors back claims of forced miscarriage

    The first couple detained under India’s controversial ‘Love Jihad’ laws have been reunited after authorities released the husband following outrage over his wife's miscarriage in detention. Rashid, 22, was released after police in his home city of Moradabad, in Uttar Pradesh, admitted they had no evidence to prosecute him under new laws designed to crack down on Hindus converting to Muslims. The new rules in Uttar Pradesh are designed to stamp out so-called ‘Love Jihad’, but critics say they are a poorly disguised attempt by the Hindu nationalist ruling party of prime minister Narendra Modi to break up genuine interfaith unions. While the laws do not specify any religion, police in Uttar Pradesh are targeting Muslims - at least ten Muslim men have been arrested so far but no Hindus. The release of Rashid, 22, came after The Sunday Telegraph revealed his three-month pregnant wife Muskan, 22, had been forced to undergo an abortion while she was in detention, triggering national outrage. After being released from detention at a women’s shelter in Moradabad, Muskan underwent an ultrasound on Wednesday, which confirmed she had a miscarriage. Muskan alleges that she was administered abortifacient injections by the Moradabad District Hospital after she was admitted with stomach pain. The Moradabad District Hospital did not give Ms Jahan any antibiotics or painkillers to prevent post-miscarriage infections, which can result in a reduction in future fertility. “I am so sad about my baby and my wife, Muskan. When I heard about Muskan’s bad health and what happened to our baby, I cried, I couldn’t stop my tears,” Rashid told The Telegraph after his release. “I want justice for the sake of Muskan, I will go to the high court for her pain and tears.” He added: “I can’t believe I have come home, everything happened so quickly that it feels like a dream." “Rashid was released not only because the marriage happened in July but because it was apparent from the start that Muskan converted to Islam and got married of her own choice, and had been living happily for months in her own home,” said Kavita Krishnan, Secretary of the All India Progressive Women’s Association, after visiting Rashid and Muskan on Saturday. The Sunday Telegraph contacted the Uttar Pradesh Police and Moradabad District Hospital for comment but did not receive a response. Additional reporting by Mohammad Sartaj Alam

  • Iraqi army: 8 rockets target US Embassy in Baghdad

    Eight rockets targeted the U.S. Embassy in Baghdad's heavily fortified Green Zone late Sunday, Iraq's military and Iraqi officials said, sparking fears of renewed unrest as next month's anniversary of the U.S. slaying of an Iranian general draws near. An Iraqi military statement said an “an outlawed group” launched eight rockets targeting the Green Zone, injuring one Iraqi security person manning a checkpoint and causing material damage to a residential complex and some cars. The U.S. Embassy's C-RAM defense system, which is used to destroy missiles in mid-air, was activated to deflect the attack, the embassy said in a statement.

  • Tesla's Elon Musk asks about converting 'large transactions' to bitcoin

    Michael Saylor, chief executive officer of MicroStrategy Inc, in a tweet to Musk, suggested that the billionaire Tesla founder and head, make the move. "If you want to do your shareholders a $100 billion favor, convert the $TSLA balance sheet from USD to #BTC," Saylor wrote in his tweet.

  • The diversity of Biden's cabinet will be just for show if it ends up promoting bad policies

    Pundits are praising Biden's appointees for their diverse backgrounds, but that is irrelevant if they use their power to harm communities of color.

  • Vikings used Britain's earliest silk to preserve their hoards, as experts say material is treasure in its own right

    Vikings used Britain's earliest silk to protect their riches, scientists have found, as they say the wrappings are "treasures in their own right". Scientists have been given a £1 million grant to discover the history of a hoard of Viking wealth found in Dumfries and Galloway. National Museums Scotland (NMS) will carry out the three-year project, entitled "Unwrapping the Galloway Hoard", in partnership with the University of Glasgow to examine the objects in detail. The 10th-century treasure trove, which was found by a metal detectorist in a field in Dumfries and Galloway in 2014 and acquired by NMS in 2017, will go on display in an exhibition next year. The research will involve precise dating of the items and, it is hoped, identification of their places of origin, which are thought to range from Ireland to the Byzantine empire and perhaps beyond. Unwrapping the riches was a once-in-a-lifetime opportunity for the scientists, who were fascinated by the materials used. Susanna Harris, lecturer in archaeology at the University of Glasgow and co-investigator on the project, said as well as the silver familiar with most Viking-age hoards and the much rarer gold, the Galloway collection also features an "unprecedented array" of other materials such as bronze, glass and rock crystal. There is also the "outstandingly rare preservation of organic materials" such as wood, leather, wool, linen, and silk, she said. "Many objects are wrapped in textiles, including Scotland's earliest examples of silk, which could have travelled thousands of miles to reach Scotland," Ms Harris said. "These types of wrappings rarely ever survive and are archaeological treasures in their own right. "The unusual survival of organic material like textiles will allow us to apply a range of scientific techniques that usually aren't possible for the precious metals that tend to dominate treasure hoards." The textiles can be chemically tested for dye to help reconstruct lost colours which have faded over the centuries since burial, or they can be radiocarbon dated to help reconstruct the history of the objects before they were buried. The Galloway Hoard: Viking-age Treasure exhibition will open at the National Museum of Scotland in Edinburgh on February 19, and will then tour to Kirkcudbright Galleries and Aberdeen Art Gallery.