Skip to main content
Advertiser Disclosure
We do receive compensation from some partners whose offers appear on this page. We have not reviewed all available products or offers. Compensation may impact the order in which offers appear on page, but our editorial opinions and ratings are not influenced by compensation.

Ascent-logo

  • Credit Cards
  • Banking
  • Brokerages
  • Loans
  • Mortgages
  • Knowledge
  • Latest Picks
  • Search Icon Click here to search

Credit Cards

Top Picks
  • Best of February 2021
  • Cash Back
  • Balance Transfer
  • Travel
  • 0% APR
  • Rewards
  • Bad Credit
Knowledge
  • Beginners Guide to Credit Cards
  • How to Rebuild Your Credit
  • Maximize Your Credit Card Rewards
  • Learn More About Credit Cards
Credit Card Tools
  • Compare Cards
Looking for a new credit card?

Explore the best credit cards in every category as of February 2021.

Get started!

Banking

Top Picks
  • Best Savings Accounts
  • Best Bank Accounts
  • Best Money Market Accounts
  • Best CDs
  • Best Checking Account Bonuses
Knowledge
  • Beginners Guide to Banking
  • Everything You Need to Know About Savings
  • Money Market Accounts Made Easy
  • Learn More About Banking
Looking for a place to park your cash?

Check out our top picks of the best online savings accounts for February 2021.

Get Started!

Brokerages

Top Picks
  • Best Brokers of February 2021
  • Best Online Brokers for Beginners
  • Best Options Brokers
  • Best IRA Accounts
  • Best Roth IRA Accounts
  • Best Robo Advisors
Knowledge
  • How to Open a Brokerage Account
  • Beginner's Guide to Brokerages
  • Learn More About Brokerage
Just getting started?

Explore our picks of the best brokerage accounts for beginners for February 2021.

Get Started!

Loans

Top Picks
  • Best Loans of February 2021
  • Best Personal Loans for Bad Credit
  • Best Loans for Debt Consolidation
  • Best Low-Interest Personal Loans
  • Best Personal Loans for Good Credit
  • Best Personal Loans for Fair Credit
Knowledge
  • Personal Loans Made Easy
  • Debt Consolidation Guide
  • How to Pay Off Debt
  • Learn More About Loans
Thinking about taking out a loan?

Before you apply for a personal loan, here's what you need to know.

Get Started!

Mortgages

Top Picks
  • Best Mortgage Lenders of February 2021
  • Best Mortgage Lenders for Poor Credit
  • Best Refinance Lenders
  • Best VA Mortgage Lenders
Knowledge
  • First Time Homebuyers Guide
  • Home Loans Made Easy
  • The Complete Guide to Refinancing
  • How to Get a Mortgage with Bad Credit
  • Learn More About Mortgages
Tools & Calculators
  • Mortgage Calculator
Compare Rates
  • Today's Mortgage Rates
  • Refinance Rates
  • 15-Year Mortgage Rates
  • 20-Year Mortgage Rates
  • 30-Year Mortgage Rates
  • Jumbo Mortgage Rates
  • VA Loan Rates
  • 5/1 ARM Rates
  • 7/1 ARM Rates
  • FHA Mortgage Rates

Knowledge

Knowledge Section
  • All Articles
  • Credit Card Articles
  • Banking Articles
  • Brokerage Articles
  • Personal Loan Articles
  • Mortgage Articles
  • Personal Finance Articles
Recent Articles
  • How I Make Money Paying Taxes With a Credit Card

    Credit Cards

    How I Make Money Paying Taxes With a Credit Card
  • The 4 Best Ways to Use Your Amex Membership Rewards Now (B.Myers)

    Credit Cards

    The 4 Best Ways to Use Your Amex Membership Rewards Now (B.Myers)
  • The 5 Best Ways to Use Your Chase Ultimate Rewards Points Now

    Credit Cards

    The 5 Best Ways to Use Your Chase Ultimate Rewards Points Now
  • I've Earned Over 10,000 Points on Everyday Spending With Chase Rewards Cards

    Credit Cards

    I've Earned Over 10,000 Points on Everyday Spending With Chase Rewards Cards
  • The Ascent
  • Knowledge
  • Personal Finance

Stimulus Check Update: $1,400 Checks Now on the Table

by Maurie Backman | Jan. 15, 2021

The Ascent is reader-supported: we may earn a commission from offers on this page. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation.

A hand holding a small American flag and a stimulus check from the U.S. Treasury.

Image source: Getty Images

Key points

  • $1,400 checks would bring most Americans recent stimulus payouts to $2,000.
  • More people would be eligible for stimulus checks.
  • Nothing is certain as of yet. Legislation still needs to make its way to the Senate and the House, and then to the presidents desk.
  • People with direct deposit details on file with the IRS would receive payments faster.

Top credit card wipes out interest well into 2022

_______________________________

In late December, lawmakers passed a $900 billion coronavirus relief bill -- the first measure of its kind to follow the CARES Act, which was signed into law in late March of 2020. Though Americans were no doubt relieved to see that December's bill included a $600 stimulus check, many felt that that sum fell short -- especially in light of the millions of people who are still out of work and who don't have a savings account to tap during these difficult times.

President-elect Joe Biden made it clear from the start that he'd be looking to push through additional aid to help those impacted most financially during the pandemic. And on Jan. 14, he released the details of his new stimulus proposal.

$1,400 stimulus checks are now on the table

For weeks, lawmakers talked about giving the public $2,000 stimulus checks instead of $600 to make a more meaningful impact for those in need of money. But that didn't necessarily mean recipients were going to collect their initial $600 stimulus and then receive another $2,000 on top of that. Rather, lawmakers had said from the start that the $2,000 payments would be more of a bump-up so that those who got their $600 already would be in line for $1,400 more.

Biden's new proposal simplifies things a little by calling for $1,400 stimulus payments to go out. And to be clear, that's $1,400 eligible recipients would get in full, bringing their total amount of recent stimulus cash to $2,000 when we add in the $600 that just went out.

But here's one big benefit included in Biden's proposal -- more people could be eligible for stimulus cash. For the most recent round of payments, children under the age of 17 were eligible for $600 stimulus checks. Biden, however, is looking to have his $1,400 payments include all adult dependents.

Furthermore, Biden did not indicate that he'd be adjusting the income limits for stimulus eligibility for his latest round. But lawmakers have been calling for more targeted stimulus aid, so we'll need to wait and see if lower phase-outs are put into place to help ensure that that money goes to those who are truly struggling.

When will those $1,400 stimulus checks go out?

Let's not get ahead of ourselves -- right now, Biden's proposal is merely that. For those $1,400 payments to get the green light, lawmakers will have to approve Biden's bill. However, now that Democrats have a majority in the Senate, that's more likely to happen, and once it does, Americans could see their additional stimulus cash within weeks.

As was the case with the last round of $600 checks, those with direct deposit details on file with the IRS will get their money the soonest. Those who didn't register bank account details will have to wait for either a paper check or debit card to arrive in the mail with their stimulus funds.

Biden has made a point of stating that he wants to send out additional aid to the public within his first 100 days of office. As such, there's reason to believe he'll be pushing for an early vote on his proposal to get that stimulus round out as quickly as possible.

Top credit card wipes out interest until 2022

If you have credit card debt, transferring it to this top balance transfer card can allow you to pay 0% interest for a whopping 18 months! That’s one reason our experts rate this card as a top pick to help get control of your debt. It’ll allow you to pay 0% interest on both balance transfers and new purchases until 2022, and you’ll pay no annual fee. Read our full review for free and apply in just 2 minutes.

About the Author

Maurie Backman
Maurie Backman icon-button-linkedin-2x

Maurie Backman is a personal finance writer who covers everything from savings to retirement to healthcare. Her articles have appeared broadly on major outlets such as CNBC, MSN, and Yahoo.

Share This Page
Facebook Icon This icon shares the page you are on via Facebook
Blue Twitter Icon Share this website with Twitter
LinkedIn Icon This image links to share the page over LinkedIn.
Email Icon Share this website with email
The Motley Fool has a Disclosure Policy. The Author and/or The Motley Fool may have an interest in companies mentioned.

The Ascent is reader-supported: we may earn a commission from offers on this page. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation.

Related Articles

Piggy bank and cash stacks image for How to Pay Off Debt

How to Pay Off Debt

Change on a desk image for How to Build Your Credit

How to Build Your Credit

A finger pointing to a Credit Rating scoring system on a screen with one through five star options. image for The Ascent's Definitive Credit Score Guide

The Ascent's Definitive Credit Score Guide

Pay Off Debt image for What Is Bankruptcy and How Does It Work?

What Is Bankruptcy and How Does It Work?

Featured Articles

How to Pay Off Debt

How to Build Your Credit

The Ascent's Definitive Credit Score Guide

What Is Bankruptcy and How Does It Work?


We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.

The Ascent Logo

The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters.

btn_facebook-yellow btn_twitter-yellow btn_instagram-yellow

Copyright © 2018 - 2021 The Ascent. All rights reserved.

About The Ascent
About Us Contact Us Newsroom How We Make Money Editorial Integrity Ratings Methodology
Legal
Terms of Use Privacy Policy Accessibility Policy Terms and Conditions Copyright, Trademark and Patent Information
Learn
Credit Cards Banking Brokerage Loans Recent Articles

By submitting your email address, you consent to us sending you money tips along with products and services that we think might interest you. You can unsubscribe at any time. Please read our Privacy Statement and Terms & Conditions.

Back to The Motley Fool