As Congress begins to put together the COVID-19 relief package, we now have a better idea of who is eligible for a third stimulus check and who is not.
WASHINGTON — House Democrats on Monday proposed paying an additional $1,400 in direct payments to individuals as Congress began to assemble a $1.9 trillion COVID-19 aid package that follows President Joe Biden’s plan to contain the pandemic. and to revive a still dizzying economy.
Democrats on the Ways and Means Committee would expand tax credits for families with children, for those on lower incomes, and for people who purchase health insurance in marketplaces created by the Affordable Care Act of 2010. The panel, which plans to review the measure by the end of the week would also provide health care subsidies to some unemployed.
The plan would include a crucial third $1,400 stimulus check that President Joe Biden said should be included in the stimulus package.
The plan is expected to align closely with President Joe Biden’s proposed package to deal with the toll of the coronavirus pandemic, which has killed more than 460,000 Americans, and the country’s still dizzying economy, which has lost 10 million jobs since the crisis started last year. Biden, less than three weeks into his presidency, has stated that beating the virus and recovering the economy are his top priorities.
Democrats have only a narrow majority in the House and Senate. In addition to the Republican opposition that could be unanimous, Democrats will have to strike a balance between party moderates who worry a package is going too far and progressives who want to push Biden as far to the left as possible.
Under the commission’s proposed legislation, the third stimulus check would be $1,400 for individuals earning up to $75,000 and heads of households earning up to $112,500. Joint filers making up to $150,000 would receive $2,800. For those above those levels, the amount of stimulus control would gradually decrease.
The proposal from the Ways and Means Committee, which plans to vote on it by the end of the week, would also extend tax breaks for families with children, for those on lower incomes, and for Americans who buy health insurance from marketplaces that are established by the Affordable Care Act. It would also provide health care subsidies to some unemployed.
RELATED: Budget Bureau: $15 Wages Would Reduce Poverty, Raise Debt
RELATED: Reports: Democrats Introduce a $3,000 Per Child Tax Break Monday
In recent days there has been discussion about what the thresholds should be for the third stimulus check, with some urging that the threshold should be lower than the first two rounds.
Who is eligible for the third stimulus check?
Under the proposal, the third stimulus check would be $1,400 ($2,800 for joint submitters), plus an additional $1,400 per dependent.
Single taxpayers earning less than $75,000 would receive the full $1,400 for their third stimulus check.
The stimulus check amount would then gradually disappear for those individual taxpayers who earn between $75,000 and $100,000 in adjusted gross income.
For the head of the household, the stimulus check amount would phase out between $112,500 and $150,000 and for joint submitters it would phase out between $150,000 and $200,000.
Who would not qualify for the third stimulus check under the proposal?
Under the proposed legislation, single taxpayers earning more than $100,000 would not receive a third stimulus check.
The same goes for the head of the household making $150,000 or more and joint filers making $200,000.
RELATED: House approves budget bill, paving the way for Biden’s $1.9T COVID-19 relief plan
RELATED: Third stimulus check update: Biden says payments of $1,400 must be in bailout plan
RELATED: Third stimulus check: The GOP plan begins to phase out at $40,000 in income
The Associated Press contributed to this report.