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Philadelphia Homeowners Plan To Spend Stimulus Cash On Improvements

Mar 15, 2021 1:52:00 PM / by Larry Julius

Delaware Valley residents will begin receiving economic stimulus checks  from the Internal Revenue Service as early as today.  In all, local consumers will receive more than $6.6 billion in payments.

This infusion of cash into the Philadelphia area economy was authorized by Congress last week in the American Rescue Plan legislation. 

The stimulus relief legislation calls for a one-time payment of $1,400 to single adults. Married couples who filed jointly will receive $2,800 total ($1,400 apiece). Families will get an additional $1,400 for each eligible dependent regardless of age. A family of four could get $5,600 in total payments. Like the second round of stimulus payments, the third round specifically prohibits payments to anyone who died before January 1, 2020.

Many of the stimulus dollars will end up in the wallets of 1.3 million Philadelphia area homeowners. Based on research from Modernize, a leader in the home improvement and home services industry, 57% of these consumers are planning to spend all or part of their checks on home improvement projects.

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