The Senate on Wednesday passed the biggest economic relief bill in US history—the AP gives a sense of scope by noting the $2.2 trillion price tag is equivalent to half the size of the entire $4 trillion-plus annual federal budget. Assuming the House passes it as expected on Friday, how much will end up in your pocket? The Washington Post has created a coronavirus stimulus check calculator where you can see for yourself (use it here), but in general, here's how it will work:
- The checks are expected to go out in April, and in most cases they won't be checks. If you qualify for a check, the government will see if it has your direct deposit info on file from the filing of your 2018 or 2019 taxes. If it does, you'll receive your payment that way.