Stimulus Checks: Why You Don’t Get Payment For Weeks — Or Not At All? – Community News
Stimulus Check

Stimulus Checks: Why You Don’t Get Payment For Weeks — Or Not At All?

The upcoming second impeachment trial against former President Donald Trump will push back any action by Congress, and lawmakers are expected to be in recess during President’s Day — meaning progress on a deal may not be made until later in the month.
It takes at least a few days for the first payments to be processed after the legislation is signed, and it has taken months for payments to be received to everyone who is eligible. Treasury is still trying to reach some of the people who should have been paid in the first round last year.
President Joe Biden is urging lawmakers to include money for additional direct payments in a sweeping Covid relief bill. While the Senate passed a major procedural step early Friday that would allow Democrats to pass the legislation without the threat of a Republican filibuster, lawmakers are only now beginning to draft the bill.

A final vote could potentially come in late February, after the impeachment process in the Senate is completed. Lawmakers hope to pass the legislation on March 14.

If and when the bill is passed — and if it includes new incentive payments — the Internal Revenue Service may soon start sending the money to people whose banking information is known.

When the $600 payments were approved in late December, it took just two days after Trump signed the bill to deliver the money. But new eligibility restrictions that lawmakers are considering could potentially delay the process.

How much will the payments be?

Biden has asked Congress to send an additional $1,400 to Americans already getting $600 under the package passed by Congress in December, bringing the total to $2,000.

But a group of 10 Republicans, who sent their own proposal to Biden earlier this week, called for $1,000 to be paid. Biden has said he wants bipartisan support for the bill, but made it clear in a meeting with House Democrats on Wednesday that the highest number is non-negotiable.

Who is eligible?

Biden has suggested keeping the income thresholds the same as previous stimulus payments, but has expressed openness to lowering them.

House Democrats have proposed a plan that would send full payment to individuals earning less than $75,000 a year and married couples earning less than $150,000 — like previous stimulus checks. But the payments would be faster than previous rounds and cut off individuals earning more than $100,000 and couples earning more than $200,000 completely.

The Republican proposal would provide full payment to individuals earning less than $40,000 a year and couples earning less than $80,000 — and the payments would taper off more quickly, leaving individuals earning more than $50,000 and couples earning more than $100,000. earn are excluded.

Analysts at The Penn Wharton Budget Model, who warned that the numbers are preliminary because no formal law is available yet, would cut 29 million households under the Republican plan.

About 95% of families would qualify under Biden’s proposal, compared to 78% under the GOP plan.

A non-binding Senate vote Thursday on an amendment to tighten eligibility controls received widespread support, 99 to 1, with only Kentucky GOP Senator Rand Paul voting against. The amendment did not specify who is ineligible for the payments, except that “higher income taxpayers are ineligible,” and does not mean that eligibility requirements in the final bill will be changed. But it does show bipartisan support for making a change.

This story has been updated with details of congressional negotiations.

CNN’s Lauren Fox, Phil Mattingly, Ted Barrett and Paul LeBlanc contributed to this report.