President Joe Biden signed the $1.9 trillion bailout package into law Thursday afternoon (March 11) and will speak to the American people about the next steps to address the COVID-19 pandemic in a prime-time television address Thursday evening.

The House passed the Biden stimulus bill (formally known as the American Rescue Plan Act) on Wednesday (March 10) after changes were made to the bill in the Senate last week.

The new law would send many Americans checks for $1,400, continue federal unemployment benefits of $300 per week through September, and extend the child tax credit up to $3,600, among other measures.

According to White House press secretary Jen Psaki, Biden will speak in a speech scheduled for tonight "about the many sacrifices the American people have made over the past year and the significant losses suffered by communities and families across the country."

It is also an opportunity for the president to sell a massive bailout package to the public. Observers believe the discussion is crucial to getting people to understand its value and necessity, even if not all Americans feel its impact. Prior to signing the bill, Biden tweeted that "better days are ahead."

But the president has already gained some support for his initiative: according to a new poll by CBS News and YouGov, two-thirds of Americans think Biden is doing a good job in fighting coronavirus. Thirty-five percent of respondents said the president's response has been "very good."

Thursday's presidential address marks the first anniversary of the World Health Organization's declaration of the coronavirus as a global pandemic.

The final version of the American Rescue Plan Act lowered the income limits for stimulus check 3. Those earning between $80,000 and $100,000 who were expecting to receive the check will not receive it; single filers up to $75,000 (and married filers up to $150,000) will receive $1, full $400 plus the full amount for each dependent.

However, the amount paid is phased out at $80,000 and $160,000, respectively.

To find out how much you will receive, enter your information into the American Rescue Plan calculator.