Third stimulus check details so far: payment size, timeline, qualification changes

The stimulus checks for up to $ 600 per person are barely in the rearview mirror, not with the second stage of stimulus control delivery is about to begin next filing taxes for 2020 (what to do if your payment has not arrived). But already, President elect Joe Biden has designs on one third stimulus check. While the timeline to deliver a check for $ 1,400 or $ 2,000 is still unknown, Biden has set his sites to change a key qualifications for stimulus payments.

If Biden’s plan goes as it is, his stimulus proposal would be a payment of up to $ 1,400 each eligible adult, not the $ 2,000, as many had thought. The idea would be to “increase” the $ 600 maximum of the second incentive check to $ 2,000, when the maximum payments per person are combined. Biden’s $ 1.9 trillion stimulus package also includes a $ 400 weekly unemployment benefit.

These suggestions are the first steps towards another injection of emergency money during the country’s unrelenting coronavirus pandemic, but it could see strong opposition to its passage (more on this below). What would be the timeline for sending the checks? How much money would this time go to dependents? Would it contain more? taxpayers who are not US citizens? And would dependents of any age are included in the final bill? This is what we know so far.

Why would the next check be $ 1,400 instead of $ 2,000?

Ironically, President Donald Trump – who was deposed on January 13 and looks at his second trial in the Senate – set serious discussions about a $ 2,000 stimulus check started when he initially delayed signing December’s Incentive Act and demanded to lift the $ 600 ceiling second stimulus check up to $ 2,000.

President-elect Biden said at a January 14 press conference, “We will finish the job of getting $ 2,000 in cash for the people who need it most.” Biden said that “even for people who have kept their jobs, getting this check is very important,” noting that workers concerned about job security or falling ill would get peace of mind and the money would also immediately go to food and rent. can spend. “$ 2,000 goes a long way to relieve that pain,” said Biden.

We can’t say for sure why Biden chose $ 1,400 as the maximum instead of $ 2,000, but there has been opposition to a $ 2,000 stimulus payment. Combined with the second $ 600 check going out, a maximum of $ .2000 would make a total of $ 2,600 per person, disregarding dependents. If Biden tries to keep the proposal below $ 2 trillion, a larger stimulus check could do his Proposed $ 1.9 Trillion Incentive Bill over the threshold.

How soon can a third stimulus check be approved?

Biden did not indicate when he would try to push his through incentive package, and it’s not clear whether the IRS would automatically send checks to the recipients have done with the second stimulus check, or if the money would be packed in one Refund Discount that anyone who doesn’t get a second check shortly after the January 15 deadline will have to claim as part of filing taxes. We go through everything we know about the third stimulus check timeline and some possible scenarios here.

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Second stimulus checks: everything you need to know

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Qualifications for stimulus control can change again

Biden suggests two changes popular among Democratic lawmakers:

A mixed-status household refers to households with one or more people who are not US citizens, for example, if the parents are not US citizens, but their children who were born in the US. The second stimulus controls comprehensive suitability for families with one citizen partner.

What could get in the way of a third stimulus check?

There is already a pushback from Democrats in more ways than one. With the Senate is evenly dividedopposition from just one Democratic senator could sink the party’s hopes for a major third stimulus check.

“$ 2,000 means $ 2,000. $ 2,000 doesn’t mean $ 1,400,” Alexandria Ocasio-Cortez told The Washington Post on Jan. 14, referring to Biden’s earlier and repeated commitment to a $ 2,000 incentive check.

At the other end of the spectrum, Senator Joe Manchin, a centrist Democrat from West Virginia, expressed concern several times about the cost of a third stimulus check, suggesting that the financial aid could be better targeted at those who need the money the most .

“How can the money we’re investing now best help us get jobs back and get people into work? And I can’t tell you that sending a new cash register will do that to someone who I already have a checkManchin said on January 8, later reportedly saying he was “open” to hearing President-elect Joe Biden’s case for a bigger stimulus check, but prioritizing vaccine distribution.

Many Republicans are expected to object to a new expensive stimulus package, especially one that could do more double the $ 600 stimulus check. With an upcoming Democrat-led senateSchumer is counting on pushing the legislation through, especially as incoming Vice President Kamala Harris will act as tiebreaker.

A third stimulus check could yield such larger checks

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 second check is $ 600 per adult, with an extra $ 600 per child depending, the route the IRS formula works, more people hit the income threshold for receiving a second payment, which means they will is not actually eligible for incentive money all the way.

A third stimulus check would:

Here are other ways a the third stimulus check could generate more money in your pocket.

For more information, here is other funding included in the next stimulus package, how calculate the payment of your second stimulus check and who may not qualify for a stimulus check.