Stimulus check calculator: How much you will receive from the new stimulus package
Stimulus check calculator: How much you will receive from the new stimulus package

Stimulus check calculator: How much you will receive from the new stimulus package

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

Use the calculator below to see how big a check you will receive. If you have already submitted your 2020 tax, the check will most likely be based on this income. If you have not, it will be based on your 2019 taxes.

The $ 1.9 trillion bill looks a little different from the legislation that was originally approved by Parliament. Provisions to increase the minimum wage to $ 15 were pushed down by Senate MPs, and income entitlement to stimulus payments was narrowed.

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

Americans with below-a-threshold incomes – $ 75,000 for individuals, $ 112,500 for heads of household and $ 150,000 for couples applying jointly – will each receive $ 1,400 per person. person as a direct deposit or postal check. Households will receive an additional $ 1,400 for each breadwinner claimed on their most recent tax applications.

What is different this time

With $ 1,400 per. individual, this will be the largest stimulus check to date for most Americans. The first round paid $ 1,200 and the second paid $ 600. Before the Senate in Georgia, Biden pushed for one $ 2,000 stimulus payment. His administration now considers the latest bill and December checks to be part of the same stimulus round, for a total of $ 2,000.

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

As with the last two payments, some Americans will receive a partial check if their income is above the threshold. However, these amounts will phase out much faster than in the last two bills on emergency aid for coronavirus. That means some Americans who received money in the first two rounds of checks are not getting anything this time.

Stimulus-check phasing out for single taxpayers

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

The narrowed eligibility was a concession from Biden to moderate Democrats whose votes were needed to pass the bill in a densely divided Senate.

Relatives will receive the same amount as adults. The first round yielded only $ 500 per. child addict vs. $ 1,200 for adults, while the second round gave $ 600 checks to both. Relatives who are 17 years or older are also included in this stimulus round.

In addition to the stimulus checks, the massive economic package extends unemployment benefits into September, increasing child tax deductionand reserves billions for state and local assistance, coronavirus testing and vaccinations and other services such as rental assistance and food aid.

correction

An earlier version of this page miscalculated how stimulus checks for relatives would be phased out.

About this story

The calculator assumes a phasing out of 5 percent of every dollar over the “full stimulus” limit. All figures are rounded to the nearest dollar. Income requirements for the bill are measured on the basis of adjusted gross income. Further analysis by Kyle Pomerleau by American Enterprise Institute.

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

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