“This bill is just the first step, a down payment, to address the crisis – crises, more than one – that we find ourselves in,” Biden said Tuesday. When a reporter asked if a future package would include the third stimulus check and how much money he would be looking for, Biden said, “That’s a negotiation issue … But it will, yes, it will.”
It’s not clear if Biden would pursue a third stimulus control like itgrows to $ 2,000 as a result of Trump’s veto.
Trump has indicated that he has itif Congress does not increase the maximum payout of , but has not similarly demanded to increase funding for other programs listed in the bill, such as for 11 weeks or money for distribution. (You calculate your $ 600 here.)
Biden said he plans to encourage Congress to pass on a larger stimulus package afterward.
For months, the nation has been fixating on when awould bring more economic relief to families, and to an American economy driven by the . More than 8 million people have fallen below the poverty line since the summer, according to the Washington Post; when daily positive COVID-19 cases are overwhelming hospitals across the country; and as the death toll exceeds historical records. The is currently being managed across the country, but officials say it will take many more months .
Below we describe what we currently know about stimulus checks in 2021.
When the $ 600 Stimulus Check Happen: Less Money for Fewer People?
Theand the IRS and the U.S. Treasury are poised to ship it faster this time, with tens of millions expected to get the second direct payment by Dec. 31 and the rest in early 2021.
It gets complicated. There is a self-imposed, after what time you have to while filing your annual taxes.
That’s not the only brain teaser. Because the upper limit for a, with an extra , as the IRS formula works, more people will reach the upper income limit for receiving a second payment, which means they all the way.
With that in mind, a third stimulus check could take a variety of angles, from addressing a segment of the population who would have missed the second stimulus check, to potentially sending a new wave of economic relief to those in the greatest financial difficulties.
Much can depend on itand what the new Biden administration sees as its goals in rebuilding an economy weakened by the coronavirus pandemic. For now, we’re waiting to see what happens with the second stimulus check, as we look to early 2021 for more.
What else could there be in a new incentive law for 2021?
We already know a few of them, which he shared as part of his presidential campaign trail. Chances are he would prompt Congress to reconsider those agenda items, in addition to several programs omitted from them by both Republicans and Democrats.
They can include measures such as:
- A third stimulus check that could reach more people.
- last March.
- It last January 31.
- Student loan deferment.
- More money for national, local and tribal governments.
- More money for contact tracking, coronavirus testing and distribution.
- Liability protection for companies against lawsuits related to the coronavirus.
For more information, calculate your payment for the second stimulus check as follows:and a primer on the .