Over the last couple of weeks, most Americans finally received a second stimulus payment, which had taken months for lawmakers to agree upon. At $600 per individual (with an additional $600 per dependent), it was much smaller than the first stimulus payment, which was $1,200 (plus $600 per dependent).
But with President elect Joe Biden set to be sworn in as the 46th President of the United States, it’s looking likely that we’ll be seeing a third stimulus payment in the near future, that could be substantially larger.
Last week, Biden referred to the second stimulus as a “down payment,” and promised that if Georgia elected Jon Ossoffand and Rev. Raphael Warnockto the Senate, a third stimulus check worth $2,000 would happen, since a direct payment for that amount was being blocked by Republicans and the pair’s election would flip the Senate, giving power to the Democrats.
“If you send Jon and the Reverend to Washington, those $2,000 checks will go out the door, restoring hope and decency and honor for so many people who are struggling right now. And if you send [Perdue and Loeffler] back to Washington, those checks will never get there. It’s just that simple. The power is literally in your hands.” – Joe Biden
So now that Ossoffand and Warnockto have been elected, when can we expect to see that third stimulus payment?
Assuming all goes as planned, it could be approved as soon as early February. And since the Treasury has managed to make quick turnarounds and distribute the checks within a week of the first two bills being signed, there’s a good chance you could see that third stimulus payment, for around $2,000, deposited into your account in mid February.
With the chance of more money coming your way in just over a month, how will you be spending it? Let us know, with a comment on the Facebook post!