Democrats are moving forward with plans for coronavirus relief that could provide a third round of direct stimulus payments to some 160 million Americans.
Democrats on the House Ways and Means Committee unveiled details of their proposal Monday with additional information on the next direct payments. The full payment amounts - $1,400 for individuals and $2,800 for married couples – are all but set but eligibility has remained in question after President Biden said he was open to negotiating income thresholds.
Who would qualify?
As with the previous two rounds of stimulus payments, the committee draft for full eligibility would include single taxpayers who earn up to $75,000 and married couples who make up to $150,000. The payments would then drop at a rate of $50 for every $1,000 above the income thresholds.
Single filers with income above $100,000 and married couples with income above $200,000 would not be eligible for any payments.
Experts predict some 160 million people will be eligible for the third stimulus checks.
The measure includes $1,400 per dependent with both children and adult dependents included. This is an expansion of previous stimulus measures when checks were limited to child dependents 17 and younger.
The package also includes a one-year expansion of the child tax credit to provide for $3,600 payments for parents of children under the age of 6 and $3,000 for children ages 7-17. The money would be paid monthly starting in July - $300 or $250 a month per child. Democrats are pushing to make the payments permanent.
Stimulus eligibility would be based in income as reported on 2019 and 2020 tax returns.
‘Targeted’ stimulus
Talks in recent days had centers on “targeting” the next round of stimulus payments only towards lower-income families. Some in Congress – including a group of 10 Republican Senators – wanted to cut the payments to $1,000 and reduce eligibility to individuals earning up to $40,000 and couples earning up to $80,000. Individuals earning $50,000 or more or couples earning $100,000 or more would not have been eligible.
$1.9 trillion relief plan
The direct payments are part of President Joe Biden’s massive $1.9 trillion relief plan designed to bolster an economy battered by the almost year-long pandemic. Committee work on a series of relief bills is expected to begin this week with House leadership aiming to bring the package to the floor by Feb. 22. The bill will then go to the Senate where it faces a tougher battle with centrist Democrats and Republicans.
If approved, the checks will be the third distributed during the coronavirus pandemic. The first provided $1,200 for individuals, $2,400 for married couples and $500 per dependents and was approved in March 2020 during the early days of the coronavirus pandemic. The second, $600 for individuals and $1,200 for married couples and dependents, was passed in December 2020.
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