There are many questions. How could it bechange to limit the number of people who would get a check for $ 1,400, and what does that mean for plans from people? Would the Senate Democrats try to approve the stimulus package? ?
Here’s what we know so far about how thecan change, you could expect family, and what happens when a payment comes in . For example, would it be your and returns? Here’s what we know about one so far including how you can to . This story has been updated with new information.
What happened to the $ 600 billion GOP incentive plan with the $ 1,000 check?
In recent days, Biden and his government have made it clear that they will not try to change histo fit into a $ 600 billion counter-proposal drafted by a group of 10 moderate Republican senators. Biden wants to keep both the baseball field price tag on the bill and the , saying the Republican bid was “not even in the cards,” Politico and other outlets reported.
“We can’t walk away from an extra $ 1,400 in direct checks that we’ve proposed because the people need them,” Biden said in a phone call on Wednesday with Congressional Democrats, according to a source speaking to The Hill. “We better target them.”
What exactly is a ‘targeted’ stimulus check and why do some legislators want it instead?
The simple explanation is that some people worry that a $ 1,400 stimulus check will go to some of the people with relatively high incomes. For example, use oura person can earn $ 102,900 per year (their ) and still get a partial payment … of $ 5.
The thing is, if lawmakers want people who earn less than $ 75,000 a year to get $ 1,400, it will require adjustments in the way things are done. One way would be to get thethat was used in the first two controls. Another would be to present a random cutoff (for example, a check would only go out to people making less than a certain amount per year, according to their AGI). A third could be to decrease the maximum amount of the next stimulus payment (because, math). Our .
If the third check for $ 1,400 has passed, is it possible that some people will still get $ 2,000?
Biden’s incentive plan requires the next check to be up to $ 1,400 per eligible adult – not the $ 2,000 some originally expected. The idea is that this third check “raises” the maximum of $ 600 outlined in the second incentive check to $ 2,000 once you combine the totals per person – but without taking into account.
We can’t say for sure why Biden chose $ 1,400 as the maximum instead of $ 2,000, but there is backlash against a $ 2,000 incentive payment. If Biden tries to keep the proposal below $ 2 trillion, a larger stimulus check could do hisover the threshold.
One question that worries people is whether, if the qualifications were expanded to new groups of people not included in the first round, the new recipients could get the full $ 2,000 amount. There hasn’t been any significant public discussion on the topic, so it’s one we’ll continue to follow.
What will be the timeline for a new incentive payment?
With a smaller, patchy bill that focuses on a third stimulus control andOff the table, Democrats are now looking for a March 14 passage for the next incentive bill. We have mapped out a number of dates a depending on who you are.
Can other eligibility requirements for incentive checks change with the third payment?
Biden proposes two changes that are popular among Democratic lawmakers. The first would expand qualifications to, including 13.5 million more people, according to the People’s Policy Project, such as students, and dependents of all ages with disabilities (not just persons under 17 years of age). The $ 600 billion Republican proposal would count $ 500 per dependent of any age (PDF).
The second eligibility change includes all ““with one or more family members who are not US citizens. For example, if the parents are not US citizens but their children, who were born in the US, are. The second incentive controls .
How soon can the IRS send the new checks if they are approved? Would they still have a deadline?
The IRS and the Treasury Department are moving at lightning speed, starting within days of the signing of former President Donald Trump . They had to. The language of the invoice only offered a 17-day window to send the checks before the deadline imposed. There were , and now will have to . (Yes, , also.)
It’s too early to say whether the IRS would automatically send a third check to recipients, as they have done with the, or if the money would be packed in one . or the like. We go through more possible scenarios for the .
How a $ 1,400 Payment Can Bring More Money to Families, Even When Targeted
A higher maximum total per person is the obvious way your household would receive more money from a third check than from the second, but there’s more to it. Because the upper limit for the, with an extra , the route , more people hit the income threshold for receiving a second payment, which means they will all the way.
A third stimulus check could create more groups of people(namely who pay taxes), and bring a larger check total to qualified individuals and their families. A change in your circumstances could mean that you qualify for more money this time. Here are other ways a in your pocket.
For more information, here is other funding included in the, how and .