January 21, 2022

Stimulus Checks: Biden Puts $2,000 Back Into Play

An economic package passed by Congress in December provided fresh $600 . incentive payments despite calls from politicians on both sides of the aisle for greater controls. Biden’s plan calls for the addition of up to $1,400 in payments — a total of $2,000 for those who qualify, according to an information sheet issued by the administration on Thursday.

Congress included payments of $1,200 in its first stimulus when the coronavirus shutdowns began last spring.

Independent Senator Bernie Sanders of Vermont and Republican Senator Josh Hawley of Missouri both pushed for the amount of the new payments to be increased, and President Donald Trump also backed $2,000 checks, though he took that stance after closing negotiations. to lawmakers and his Treasury Secretary Steven Mnuchin. Trump stopped signing the bill on the matter, but eventually signed it into law.

Current Senate Majority Leader Mitch McConnell rejected a standalone bill to increase the value of the checks, but with Democrats poised to take control of the chamber — and Congress — after victories in two Senate elections in Georgia Biden will likely have the votes to approve increased emergency aid spending.

Democratic Senate leader Chuck Schumer of New York has said that one of the first bills he would pass if he becomes Senate majority leader would increase stimulus payments to $2,000.

How much do recipients actually get?

Those eligible for the incentive payments could receive up to $1,400, which would be in addition to the $600 payments that started going out earlier this month. In a letter to his Democratic colleagues sent this week, Schumer indicated that he is planning payments that would increase the total payout to $2,000.

“Democrats wanted to do a lot more in the last bill and pledged to do more, given the chance, to increase direct payments to a total of $2,000,” he wrote.

Qualifying for the payments of $600 is largely based on income. Individuals who earn less than $75,000 per year receive the full $600. Household heads who earn less than $112,500 and married couples who collectively earn less than $150,000 also owe the full amount. They get $600 per child under 17.
Payments will begin to taper off for those making more money, at a rate of $5 per $100 of additional income. According to an analysis by the Tax Foundation.

Undocumented immigrants who do not have a social security number are not eligible for the payments. But in a change from the first round, which was sent out last spring, their spouses and children are now eligible as long as they have Social Security Numbers.

During the first round, the federal government sent $1,200 payments to eligible Americans. They were usually shipped between April and August.

Kate Sullivan of CNN reported.

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