Of course, nothing is certain and no checks will be sent until Congress passes a final stimulus package. A bipartisan group of lawmakers is already trying to downsize Biden’s proposal and make it more focused on certain groups of people, possibly by– because of this, fewer people would do that . On Monday, the House of Representatives will go back to work and plans to start already next week.
This is what we know so farhouseholds expect a third check, and – more importantly – how those incentives finance . as the IRS orchestrates both and and returns. This is what we know about one so far , including how you can to .
Why do some legislators want the stimulus check to be more targeted? What does that mean?
The simple explanation is that some people are concerned that a $ 1,400 stimulus check will go to some of the people with relatively high incomes. For example, use our, a person could earn $ 102,900 per year (their ) and still get a partial payment … of $ 5.
The point is, if lawmakers want people who make less than $ 75,000 a year to get $ 1,400, they need to make adjustments to 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 limit (for example, a check would only go out to people who earn 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 .
On Monday, Biden said in the White House that he was “open to negotiating” the income limits for a third check. “There is a legitimate reason for people to say, ‘Did you draw the lines correctly? Should it go to someone making more than X dollars or why?’ He said. “This is all a bit of a moving target in terms of the precision with which this is going.”
If the third check is $ 1,400, can some people 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 stimulus 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’s a backlash against a $ 2,000 incentive payment (more below). If Biden tries to keep the proposal below $ 2 trillion, a larger stimulus check could do hisover the threshold.
One question that concerns 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.
Will the qualifications of other incentive checks change in this payment round?
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 children of all ages with disabilities.
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 .
Could Congress vote next week to approve a new stimulus check?
The House of Representatives will not be in session again until Monday, but the plan is to submit a bill shortly afterwards.
“We’ll be doing our committee work next week so we’re all set to go to the floor when we get back,” house speaker Nancy Pelosi said in a press conference on Thursday.
It is not clear if this will be a sweeping stimulus package as suggested by Biden, or a smaller, patchy bill targeting a third stimulus control and.
How soon could the IRS send the third checks? Would there be another deadline?
The IRS and the Treasury Department are at a blazing pace, 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 .
What are the biggest hurdles to a third stimulus check?
There is already a pushback from Democrats in more ways than one. Withopposition from just one Democratic senator could sink the party’s hopes of a major third stimulus check.
“$ 2,000 means $ 2,000. $ 2,000 doesn’t mean $ 1,400,” said Rep. Alexandria Ocasio-Cortez, a Democrat, on Jan. 14 against The Washington Post, citing Biden’s earlier and repeated commitment to pay a $ 2000 incentive check.
At the other end of the spectrum, Senator Joe Manchin, a centrist Democrat from West Virginia, repeatedly expressed concern 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 invest 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 whoManchin said on Jan. 8, later reportedly saying he was “open” to hearing Biden’s case for a bigger stimulus check, but prioritizing .
Many Republicans are expected to object to a new expensive stimulus package, especially one more than. With a new Senate Majority Leader Chuck Schumer is counting on pushing the legislation through, especially as Vice President Kamala Harris will be acting as a Senate tiebreaker.
How Can a $ 1,400 Check Bring More Money to Families?
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 would:
Here are other ways ain your pocket.
For more information, here is other funding included in the, how and .