Despite all the recent political drama there’s one main thing many Americans are saying, and it’s a very simple thing: show me the money.
The pandemic has drained many accounts, crushed small businesses and left many people in danger of eviction and very hard challenges.
The first check for $1,200, a second for $600 provided a little bit of help but the third $2,000 check was something everyone who is eligible was looking forward to.
Of course, Joe Biden and the Democrats were happy to announce the third check will be for $1,400 since $600 was already paid out. That’s some sneaky accounting right there, but leaving that aside the obvious question remains: when will the $1,400 check arrive?
When Will You Get Your $1,400 Check?
Biden will be signing a $1.9 trillion COVID bailout “America Rescue Plan” that includes a $1,400 check for the majority of US citizens.
The good news is that the $1,400 check is very likely to be put into law and start going out to Americans who need it.
The bad news is that those checks are going to take a little bit of time to arrive. There are two main reasons for this:
One is that Republican members of Congress are likely not going to agree with everything in the massive bailout bill, which is full of Democratic pork and progressive legislation. The full bailout is probably going to be reduced somewhat once negotiations are complete.
The second is that the bureaucratic process itself will take time to get the law translated over into actual checks that show up at your door or by direct deposit into your account.
Promised $2,000 check.
Given $1,400 check. pic.twitter.com/uozIa7REzM
— Erik Barnes (@ErikWBarnes) January 15, 2021
What Date Will the Checks Likely Arrive?
The COVID checks will likely become part of law in the first three months of 2021 along with more help for small businesses and funding for healthcare as well as aid to struggling areas of the country.
Goldman Sachs knows about money and its chief US Political Economist Alec Phillips says he believes the package will pass by mid-February or mid-March at the latest. It will then be given the greenlight by President Biden and reach people around one to two weeks after that based on how long it took the first two payments to arrive.
In other words the soonest you are likely to see that lovely $1,400 in your account is late February and the latest is early April if it doesn’t get signed off on until later in March.
As long as at least 10 Republicans support the bill and it can clear any hurdles in the Senate then it should be all clear and be arriving to your account.
The Bottom Line
The bottom line is that about six out of 10 American households have said they are having financial issues right now. The $1,400 checks are something people need. In 2008 it took only hours for the Obama Administration to decide to bail out Wall Street and corrupt real estate firms and “too big to fail” banks, but it took them months to bail out GM, Chrysler and auto factories that ordinary workers depended on.
It’s obvious to many of us that when it comes to Congress the American people come last after big business, big media and big finance.
But the Republican party is increasingly becoming the party of the working family, with examples being the efforts by Missouri’s Republican Senator Josh Hawley to work with Independent Senator Bernie Sanders to get these checks passed, and President Trump’s past support for (full) $2,000 checks.
It’s time to get these checks out to people as soon as possible. Show me the money.