$1,400 stimulus checks: What we know about who could qualify based on House Democrats’ latest plan – CNBC

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Democrats are forging ahead with plans to send millions of Americans $1,400 stimulus checks. Their most recent proposal sheds light on just who could be eligible for the money once it’s approved.

The House of Representatives unveiled its legislative drafts on Monday. Democrats, under the leadership of President Joe Biden, plan to try to have $1.9 trillion in additional coronavirus aid passed using a process known as budget reconciliation.

New $1,400 stimulus checks are among the measures expected to be included.

While there is bipartisan support for more direct payments, some lawmakers have questioned just how generous they should be this time around.

“I’m not cutting the size of the checks,” Biden said during an economic update last week. “They’re going to be $1,400. Period.”

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He did indicate the payments should be structured so that “folks making $300,000 don’t get any windfall,” which can happen when a family has many children.

Yet other lawmakers have complained the thresholds to qualify for the payments could be too generous. Last week, one group of Republicans proposed capping the checks completely for individuals who earn $50,000 and couples with $100,000 in income.

House Democrats’ latest proposal outlines who could be eligible for the payments unless changes are made.

Given the current guidelines, payments could be sent to roughly 160 million people, said Howard Gleckman, senior fellow at the Urban-Brookings Tax Policy Center, based on previous modeling the nonpartisan think tank had done for a proposal with similar terms.

Generally, the payments would be $1,400 per individual, or $2,800 per married couple who file jointly, plus $1,400 per dependent. Unlike previous stimulus checks, both children and adult dependents would qualify.

Source Article from https://www.cnbc.com/2021/02/09/1400-stimulus-checks-who-may-qualify-based-on-democrats-new-plan.html

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