Thursday, October 28

Who would not receive a third stimulus check if they reduce income level for eligibility as Republicans want


Who would not receive a third stimulus check if they reduce income level for eligibility as Republicans want

Sen. Susan Collins is the Republican spokesperson in the delegation’s talks with the White House for a third stimulus check.

Foto:
Chip Somodevilla / Getty Images

Republicans in the United States Senate have proposed to the Administration of Joe Biden that for a third round of stimulus checks, the eligibility criteria be amended so that payments are targeted to Americans who generate less income, which would imply less government investment for those purposes.

The above was part of what the minority members presented to the president in a meeting this Monday in White House.

Although it is highly unlikely that the Republicans’ plan will become law, media such as the Associated Press revealed part of the content of the delegation’s draft.

Republicans want it to help apply to those who earn $ 40,000 a year or less

As currently written, individuals who earn up to $ 40,000 per year, and $ 80,000 in the case of couples, would be credited with the full stimulus payment.

From these amounts, the gradual elimination of the benefit would begin. Individuals with incomes greater than $ 50,000 or $ 100,000 in the case of marriages will not receive the aid.

Income Eligibility Provisions in the CARES Act

Under the Coronavirus Relief, Relief and Economic Security Act (CARES) under which checks of $ 1,200 minimum were distributed, people who file taxes Internal Revenue Service (IRS) with adjusted gross income up to $ 75,000 and up to $ 150,000 for married couples filing jointly will receive full payment.

In the case of taxpayers who report “income above these amounts, the amount of the payment is reduced by $ 5 for every $ 100 above the thresholds of $ 75,000 / $ 150,000.”

Individual applicants with income over $ 99,000 and those who jointly declare income of $ 198,000, without children are not eligible.

In the case of taxpayers who report “income above these amounts, the amount of the payment is reduced by $ 5 for every $ 100 above the thresholds of $ 75,000 / $ 150,000.”

Individual applicants with income over $ 99,000 and those who jointly report income of $ 198,000 with no children are not eligible.

The same income eligibility criteria were established for the second round of $ 600 under the Supplemental Appropriations in Response and Relief to Coronavirus Act of 2021.

Republicans and Democrats far from reaching agreement on stimulus package

Republicans don’t just want to limit eligibility based on AGI so fewer people get the direct payments.

Also as part of the $ 618 billion plan, they propose that the base amount of the third stimulus check be not $ 1,400 as announced by Biden and his team, but $ 1,000.

Although Biden seeks to break down partisan barriers so that his $ 1.9 trillion coronavirus plan is approved shortly with the support of members of both delegations in the United States Congress, the differences between the parties are notable, so the mechanism The “reconciliation” policy considered by Democrats could be used to expedite the package without the support of their political opponents.

There are several issues in Biden’s “Economic Rescue Plan” that are left out of the Republican draft, such as the increase in the federal minimum wage and more funding for states and local governments. Additionally, minority lawmakers are proposing to cut investment to extend weekly unemployment funds, a key issue for Democrats.


eldiariony.com

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