Third Stimulus Check of $1,400 Will Likely Be Passed by End of March, Analysts Say

Third Stimulus Check of $1,400 Will Likely Be Passed by End of March, Analysts Say

Experts believe that President Joe Biden's proposed $1,400 COVID-19 stimulus checks could be passed by Congress by the end of March.Although there may not be enough bipartisan support for the entire $1.9 trillion stimulus package, a compromise package would likely have an easier time making it through both legislative chambers and onto Biden's desk. However, a successful package could take months of negotiations during a time when millions of Americans are continuing to struggle due to the pandemic.Heights Securities analyst Hunter Hammond told CBS News that the $1,400 checks are likely to be passed as part of a scaled-down package by the end of March, while Alec Phillips, the chief U.S. political economist for Goldman Sachs, told the outlet that he believes a package including the checks will pass sometime between mid-February and mid-March.After Biden signs the bill, the checks would then be sent out to mailboxes or directly deposited into the bank accounts of recipients. That process could take weeks longer, potentially pushing back the time that Americans would actually receive the payments to mid-April.Individuals earning $75,000 per year or less would be eligible for the full $1,400 checks under Biden's proposal. The amount would incrementally decrease for those