With President-elect Joe Biden's stimulus package scheduled to be announced Thursday (January 14) evening, the American people are likely to see additional direct payments. The proposal will almost certainly include a third stimulus package, but the exact amount is not yet known.

Brian Deese, Biden's pick for National Economic Council secretary, suggested Wednesday that the $2,000 payment, which Democrats and President Trump have been dithering over for weeks, would be paid to the U.S. Department of Commerce.

However, it is possible that this third round of checks will be for $1,400 apiece, which, when combined with the $600 checks sent over the past few weeks, will simply total $2,000.

"The Democrats wanted to do more in the last bill and promised to increase the direct payments to a total of $2,000 if given the opportunity.

According to CNN, Biden's entire package is expected to cost about $2 trillion, far more than the $900 billion bailout bill that lawmakers approved in December. The president-elect is likely aiming for bipartisan support in the Senate, even if it is expensive.

Senator Marco Rubio (R-FL) said in a letter sent to Biden on Thursday that he is open to a bill that includes a $2,000 check.

"It would send a powerful message to the American people if, on the first day of his presidency, he called on the House and Senate to send a bill to raise the direct economic impact payment from $600 to $2,000 for Americans who are struggling due to the pandemic," Rubio wrote. Rubio wrote.

The $600 payment approved by Congress in December must be processed and sent by this Friday, January 15, under provisions contained in the $900 billion bill.

Many people have already seen these funds deposited via direct deposit or paper check, but if you have not yet received your payment and believe you are eligible, you can check your status using the Get My Payment tool on IRS.gov.

Note that individuals with annual incomes of $87,000 or more and joint filers with annual incomes of $174,000 will not receive a second check. This is a lower cutoff than last spring's CARES law (which provided at least some for individuals with annual incomes up to $99,000 and for joint filers up to $198,000).

This is because both laws reduce by $5 for every $100 of income once filers' income exceeds $75,000 per person; the $600 payment from the December bill eats up last spring's $1,200 check twice as fast.