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Third stimulus check: Senate proposal would write fewer checks

2021-03-04T07:22:22.129Z


US President Joe Biden struck a deal with moderate Democrats to lower income eligibility for the next round of $ 1,400 stimulus checks that are included in a bill the Senate is expected to address. week, a Democratic source told CNN on Wednesday. | United States | CNN


The details of the possible new US stimulus check 3:46

Washington (CNN) -

US President Joe Biden has struck a deal with moderate Democrats to reduce income eligibility for the next round of $ 1,400 stimulus checks included in an expected bill. for the Senate to address this week, a Democratic source told CNN on Wednesday.

That means 7 million fewer families will receive a partial payment than would receive it under the House version of the bill, according to an estimate from Penn Wharton's Budget Model.

The new proposal will completely eliminate couples who earn more than $ 160,000 a year and individuals who earn more than $ 80,000 a year.

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House of Representatives legislation, which passed Saturday, set income limits at $ 200,000 for couples and $ 100,000 for individuals.

But the same households will receive the full payment of US $ 1,400 per person, including children.

People earning less than $ 75,000 and couples earning less than $ 150,000 will receive it, just like in the House bill.

Thereafter, the payouts will progressively decrease faster for those who earn more.

Unlike the previous two rounds, dependent adults, including college students, are expected to be eligible for payments.

The House bill had already lowered eligibility compared to previous rounds of stimulus payments.

Still, it would send money to more than 93% of taxpayers, according to estimates from both the Penn Wharton Budget Model and the nonpartisan Tax Foundation.

The Senate version will give money to about 90% of families.

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The federal government made payments of up to $ 1,200 per person last year and up to $ 600 in January.

The next round is aimed at completing the checks for US $ 600 so that individuals receive a total of US $ 2,000.

Senate Democratic leaders are ready to move the bill forward this week, but they continue to put final touches on the text.

With a party split from 50 to 50, they will need the support of the entire parliamentary group.

CNN's Lauren Fox contributed to this report.

Economic stimulus

Source: cnnespanol

All news articles on 2021-03-04

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