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


Loading...

The stimulus checks for up to $600 per person are hardly in the rearview mirror, not with the second phase of stimulus check delivery about to begin alongside filing for 2020 taxes (what to do if your payment didn’t arrive). But already, President-elect Joe Biden has designs on a third stimulus check. While the timeline to deliver a $1,400 or $2,000 check is still unknown, Biden has his sights set on changing some key stimulus payment qualifications.

If Biden’s plan passes as is, his stimulus proposal would approve a payment of up to $1,400 per eligible adult, not the $2,000 as many had thought. The idea would be to”raise” the $600 maximum of the second stimulus check to $2,000, when combining the per-person payment maximums. Biden’s $1.9 trillion stimulus package also includes a $400 weekly unemployment bonus.

These suggestions are the first steps toward a fresh injection of relief money during the nation’s unrelenting coronavirus pandemic, but it could see strong opposition to its passage (more on that below). What would be the timeline for sending the checks? How much money would go toward dependents this time? Would it include more taxpayers who aren’t US citizens? And would dependents of any age be counted in the final bill? Here’s what we know so far.

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

Loading...

Ironically, President Donald Trump — who was impeached on Jan. 13 and faces his second trial in the Senate — set serious discussions of a $2,000 stimulus check in motion when he initially delayed signing December’s stimulus bill and demanded to raise the $600 ceiling on the second stimulus check to $2,000.

President-elect Biden said during a Jan. 14 press conference that “We will finish the job of getting $2,000 in cash relief to people who need it most.” Biden said “even for people who have kept their jobs, getting this check is really important,” noting that workers who worry about job security or getting sick would gain peace of mind, and could also immediately spend the money on food and rent. “$2,000 is going to go a long way to ease that pain,” Biden said.

We can’t say for certain 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 $600 second check that went out, a full $,2000 maximum would bring a combined total of up to $2,600 per person, without figuring in dependents. If Biden is trying to keep the proposal below $2 trillion, a larger stimulus check could push his $1.9 trillion stimulus bill proposal over the threshold…Read more>>

Source:-cnet

Loading...

Register Form

Name
Email Address
Phone No