Stimulus Bill Passes Congress: What It Means For NJ Residents

WASHINGTON, DC — More aid for cash-strapped and pandemic-weary Illinois residents could soon be on the way now that the United States House of Representatives Wednesday passed a final version of the $1.9 trillion coronavirus relief package.

The goal was to pass the American Rescue Plan, which aims to combat the pandemic and bolster the U.S. economy, and deliver it to President Joe Biden by March 14 — the day emergency jobless benefits expire. Biden is supposed to sign the bill Friday, according to media reports.

As with the Senate version, House Republicans were unanimous in their opposition to the bill. All New York Republican representatives voted against the final measure.

Only Rep. Jared Golden, a Maine Democrat, broke with his party to vote against the bill.
No Republicans voted in favor of the bill, including New Jersey's Jeff Van Drew (2nd District/Dennis Township) and Chris Smith (Fourth District/Hamilton Township)

When you'll get your stimulus check

Most notably, the measure will provide the much-anticipated $1,400 payments to individuals who meet certain income criteria.

The maximum amount for the third round of stimulus checks will be $1,400 for any eligible individual or $2,800 per eligible couple filing taxes jointly. Each eligible dependent — including adult dependents — also will qualify for a payment of $1,400. That means a family of four could receive as much as $5,600 in total.

Checks of up to $1,400 will go to individuals making $80,000 or less, single parents earning up to $120,000 and couples with household income of less than $160,000.

According to CNET, checks sent to direct deposit accounts could start going out the week of March 17. Paper checks could start being mailed the following week.

Child Tax Credit

One big benefit that could help families around the country is a boost in the child tax credit.

The credit, which is now at a maximum of $2,000, is being raised to as much as $3,600 per child under 6 and $3,000 per child between the ages of 6 and 16 for 2021. It will be paid out in monthly installments starting in this July and will include more low-income households.
The expanded credit begins to phase out for those earning $75,000 a year or $150,000 for couples.

More Federal Aid

In addition to direct payments, the legislation would provide hundreds of billions of dollars for schools and colleges, coronavirus vaccines and testing, mass transit systems, renters and small businesses.

It also has money for child care and assistance for states willing to expand Medicaid coverage for low-income residents.

Federal unemployment payments of $300 per week will be extended through Sept. 6.

An increase in the minimum wage was not a part of the House bill that just passed.