Stimulus check calculator: how much will you get from the new stimulus package – Community News
Stimulus Check

Stimulus check calculator: how much will you get from the new stimulus package

A third round of stimulus checks, part of the Biden administration’s American Rescue Plan, has been signed into law.

Use the calculator below to see the size of a check you will receive. If you’ve already filed your 2020 taxes, the check is likely based on that income. If you haven’t, it will be based on your taxes in 2019.

The $1.9 trillion bill looks a little different from the legislation originally passed by the House. Provisions to raise the minimum wage to $15 were scrapped by the Senate legislator, and income eligible for incentive payments was reduced.

[What’s in the Senate’s $1.9 trillion covid bill: Checks, unemployment insurance and more]

Americans with incomes below a certain threshold — $75,000 for individuals, $112,500 for heads of household and $150,000 for couples applying jointly — each receive $1,400 per person as a direct deposit or mailed check. Households receive an additional $1,400 for each dependent claimed based on their most recent tax returns.

What’s different this time

At $1,400 per person, this will be the biggest stimulus check yet for most Americans. The first round paid $1,200, and the second paid $600. Before the second round of the Georgia Senate, Biden pushed for a $2,000 stimulus payment. His administration now considers the last bill and the December checks as part of the same stimulus round, totaling $2,000.

[Calculate how much you would get from the expanded child tax credit]

As with the last two payments, some Americans get a partial check if their income is above the threshold. However, these amounts will decrease much faster than in the past two measures in support of the coronavirus. That means some Americans who got money in the first two rounds of checks will get nothing this time.

Incentive control phasing out for single tax filers

[Biden stimulus showers money on Americans, sharply cutting poverty in defining move of presidency]

The limited eligibility was Biden’s concession to moderate Democrats, whose votes were needed to pass the bill in a closely divided Senate.

Dependents receive the same amount as adults. The first round gave only $500 per dependent child versus $1,200 for adults, while the second round gave $600 checks to both. Individuals who are 17 years of age or older are also included in this round of stimulus.

In addition to the stimulus measures, the massive economic package extends unemployment benefits until September, increases child tax relief and earmarks billions for state and local aid, coronavirus tests and vaccinations and other benefits such as rent aid and food aid.

correction

An earlier version of this page miscalculated how stimulus controls for dependents would disappear.

About this story

The calculator assumes a 5 percent phaseout of every dollar above the “full stimulus” limit. All figures are rounded to the nearest dollar. Income requirements for the account are measured based on adjusted gross income. Additional analysis by Kyle Pomerleau of the American Enterprise Institute.

Originally published for the first stimulus bill, on March 26, 2020, then updated for the second and third.