Third Stimulus Check Update: The Current Plan for $1,400 Payments

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Will there be a third round of stimulus checks? If so, when will they arrive? How much will they be? Will I get one? These are just a few of the many questions people are asking about third stimulus checks. Why so many questions? It’s partly because there have been so many different third stimulus check proposals coming out of Washington, D.C., lately. Some proposals called for $2,000 checks, while others were for $1,400 payments. Under some plans, everyone who received a first- or second-round stimulus check would also get a third one. But other plans are more “targeted” and would stiff some people who received an earlier payment.

Fortunately, a single third stimulus check plan is now moving its way through Congress. It was already approved by the House Ways and Means Committee and will be included in the House budget reconciliation bill – the legislation being used by Congressional Democrats to push through President Biden’s COVID-relief package. The reconciliation bill is expected to be passed by the House before the end of February. And the overall goal is for the House and Senate to agree on a final bill before March 14.

There could be changes to the current stimulus check plan before a final reconciliation bill is signed, sealed, and delivered. But the general framework is likely to remain the same. That means we can start providing probable answers to some of the questions Americans have about the next round of stimulus checks. We’re also able to offer a handy Third Stimulus Check Calculator that lets you see how much money you would get if the current proposal is ultimately enacted (everyone’s payment will be different). Having this information in advance can help you prepare your finances for the future if this current plan makes it to the finish line with little or no changes.

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