How Long Islanders are planning to spend their stimulus checks

The Treasury Department is now sending out stimulus checks to Americans as part of the $1.9 trillion American Rescue Plan.

News 12 Staff

Mar 13, 2021, 10:52 PM

Updated 1,137 days ago

Share:

The Treasury Department is now sending out stimulus checks to Americans as part of the $1.9 trillion American Rescue Plan.
President Biden signed the bill into law on Thursday, which includes $1,400 of direct economic assistance to millions of Americans.
Eligibility for the stimulus checks is based on income. $1,400 checks will be sent to individuals making less than $75,000, and couples making less than $150,000. Individuals making more than $80,000 and couples making $160,000 will not receive checks.
Even though less people will get the aid, economists say it will have a direct effect on Long Island’s financial health.
“I think Long Island will benefit very much from this new infusion of cash,” says Martin Melkonian, a Hofstra University economics professor. “I think, particularly, it will prevent unemployment from rising. That's the key thing.”
The IRS says Americans should receive the vast majority of checks in the next few weeks.



More from News 12