Senate Democrats still finishing their COVID-19 relief bill as Biden signs off on narrowing stimulus check eligibility
Making ends meet is easier when a new stimulus check hits your bank account. The third round of payments is making its way through legislation. Lawmakers are hoping to pass it by March 14 before federal unemployment benefits expire.
In a furious last-minute push, Democrats are scrambling to put their final touches on a $1.9 trillion Covid-19 relief bill that the entire caucus will have to support, a task that has proven difficult in the final hours of negotiations and revealed the uphill climb the party will have in moving President Joe Biden’s agenda in the future.
In the latest development Wednesday, Biden agreed to a compromise with moderate Democrats to narrow the income eligibility for the next round of $1,400 stimulus checks included in the Senate bill.
If the current version passes, here’s what to expect:
- Phase out begins at $75,000 for single filers (same as House bill); now ends at $80,000
- Phase out begins at $112,500 for head of household (same as House bill); now ends at $120,000
- Phase out begins at $150,000 for joint filers (Same as House bill) — now ends at $160,000
Under this proposal, this means, for example, if you are a single filer making more than $80,000 a year, you would not receive a stimulus check, where as under previous proposal you could earn up to $100,000 before the amount of stimulus you would qualify for was completely phased out.