Stimulus Check Update: Some Good News (and Potential Bad News) About $1,400 Checks

When President Joe Biden signed the American Rescue Plan Act in March, the law entitled most American families to receive a stimulus check valued at $1,400 per person (including dependents). This was the largest of the three stimulus payments that the government has issued to date in response to COVID-19. The money has made a huge impact; in fact, economists expect that household income in March may have increased by the largest amount ever recorded.