(Photo : Getty Images/Chip Somodevilla)
WASHINGTON, DC - FEBRUARY 01: U.S. Sen. Susan Collins (R-ME) speaks to reporters on behalf of 10 Republican senators after meeting with President Joe Biden and Vice President Kamala Harris in the Oval Office at the White House February 01, 2021 in Washington, DC. The senators requested a meeting with Biden to propose a scaled-back $618 billion stimulus plan in response to the $1.9 trillion coronavirus relief package Biden is currently pushing in Congress.
Legislation to give Americans a third COVID stimulus check amounting to $1,400 this time is sprinting through Congress, clearing hurdles with the finish line in sight. Hoping to avoid a mid-March lapse in unemployment benefits, lawmakers state they plan to have the relief package legislation on the House floor by Friday next week.
According to House Democrats on Tuesday, they are finalizing President Joe Biden's $1.9 trillion economic relief package. They are prepared to vote on it over the weekend if the bill's passage mandates extended debate. Majority Leader Steny Hoyer told them during a Tuesday conference call that he hopes to have the most recent relief package legislation on the House floor by February 26.
Congress' Deadline for Third Stimulus Check
A powerful committee in the House provided its approval last week. Speaker Nancy Pelosi has revealed that lawmakers have a looming deadline that they are trying to beat, reported Yahoo Sport.
The total amount you could receive with a third stimulus check for your household is conditional. It hinges on an important formula the IRS will eventually use to calculate your share indicated in the upcoming stimulus bill.
The most recent proposal would provide adults up to $1,400 maximum. It would also include an additional $1,400 for dependents of any age, a potentially massive sum compared to the previous two checks. For example, a family of four could receive $5,600 in contrast to $2,400 supplied by the $600 check, reported CNET.
According to Pelosi last week, "We hope to finish our markups in committee this week and then send it (the stimulus bill) to the budget committee next week for them to work their will on it, then to the rules committee, and then to the floor, and we hope to have this all done by the end of February," reported Action News Jax.
Also Read: Third Stimulus Check for the Elderly: Changes, Rules for Retirees, SSI, Veterans
The timing of the stimulus checks has left some concerned to seek some more help from the government. Other aid programs are slated to time out within weeks.
This coming week, the House Budget Committee will collate a final bill based on the measures approved by at least nine committees. Most of them follow what President Biden outlined in his proposal in January.
The aim is for the final passage to transpire on the week of March 8, allowing the Senate time for probable amendments. Hoyer shifted next week's session to Tuesday through Friday to act upon the budget reconciliation process.
Congressional leaders already have the new series of direct payments moving along a swift track. However, the process will reportedly kick into an even speedier gear.
No Republican Support
The Democrats who control Congress have the president's plan zooming in the fast lane using a special process that would enable it to pass with simple majorities -- meaning with no GOP support.
One Possible Roadblock
According to West Virginia Democratic Sen. Joe Manchin, only the neediest Americans should receive the full $1,400. Democrats hold the Senate by a razor-thin margin and need all votes from their side, including the senator's vote.
