Hopefully, Senate does not mess it up.
President Biden has agreed to narrow eligibility for a new round of $1,400 stimulus payments in his $1.9 trillion coronavirus relief bill, under pressure from moderate Senate Democrats who’ve pushed for more “targeted” spending in the bill.
Under the new structure, the checks would phase out faster for those at higher income levels, compared to the way the direct payments were structured in Biden’s initial proposal and the version of the bill passed by the House on Saturday.
Under the plan passed by the House last week, individuals earning below $75,000 per year and couples making up to $150,000 per year would qualify for the full $1,400 stimulus payment. The size of that payment begins diminishing for higher earners. Under the House plan, individuals making up to $100,000 per year and couples making up to $200,000 per year would receive a partial payment less than $1,400 per person, scaled down depending on income.
https://www.msn.com/en-us/news/polit...?ocid=msedgntp