DES MOINES – Today (Wednesday), Rep. Cindy Axne (IA-03) announced that Iowans who receive Veterans’ benefits could expect Economic Impact Payments of up to $1,400 hit their bank accounts beginning this week.  The latest round of payments applies specifically to veterans and their beneficiaries who receive Compensation and Pension (C&P) benefit payments and who don’t normally file a tax return.

Most payments will be automatically deposited into banks accounts or loaded onto the Direct Express cards where veterans receive their benefits. Those waiting on paper checks or debit cards through the mail should expect to receive their payments over the next several days.

An estimate from the White House found that more than 2 million adults and 800,000 children in Iowa are eligible to receive payments of up to $1,400 per person through the American Rescue Plan that Rep. Axne helped pass in March 2021, which included changes she fought for to make adult dependents eligible. In total, 91 percent of Iowa adults are expected to receive this round of Economic Impact Payments.

The American Rescue Plan included Economic Impact Payments of up to $1,400 per person. Individuals earning up to $75,000 annually, heads of household earning up to $112,500 annually, and couples earning up to $150,000 annually will receive the full $1,400 per person, for themselves and their dependents. After that, the checks begin to phase out, with payments stopping at individuals earning $80,000 in annual income, heads of household earning $120,000 in annual income and married couples earning $160,000 in annual income. 

Iowans can go online to check the status of their payment using the “Get My Payment” tool at: https://www.irs.gov/coronavirus/get-my-payment.