Who is eligible?
Not everyone who received money in the first round of $1,200 payments that went out last spring was eligible for the second check for $600.
The smaller payments were phased out more quickly, cutting off individuals earning more than $87,000 a year and childless couples earning more than $174,000 a year.
The first two rounds of incentive payments were based on a taxpayer’s income in 2019. That means someone who has lost their job or has otherwise seen their income fall drastically in 2020 may be eligible for more money than they first received. .
Anyone who may have earned more in 2020 than in 2019 does not have to repay money already received.
Congress considers third round of payments
Individuals earning less than $75,000 a year and married couples earning less than $150,000 get the full amount.
But not everyone who has received a previous stimulus check is eligible for this round. The payments would disappear faster and completely cut off individuals earning more than $100,000 and families earning more than $200,000, no matter how many children they have.
The benefit is calculated based on 2019 or 2020 income. Unlike the previous two rounds, adult dependents would be eligible for the payments.
Lawmakers hope to pass legislation by mid-March. The full House may vote on the bill next week, but it could face hurdles in the Senate.