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Biden to put $2,000 stimulus payments back in play | Coronavirus – Kansas City, Missouri

Kansas City, Missouri 2021-01-14 13:56:00 –

(CNN)-A $ 2,000 stimulus check is expected to be included in the $ 2 trillion Covid bailout program and will be announced by President-elect Joe Biden on Thursday night.

The economic package passed by Congress in December provided a new $ 600 stimulus, despite being asked by politicians on both sides of the aisle for greater checks.

Congress included a $ 1,200 payment as the first stimulus when the coronavirus shutdown began last spring.

Vermont Independent Senator Bernie Sanders and Missouri Republican Senator Josh Hawley both pushed to increase new payments, and President Donald Trump also came out in favor of a $ 2,000 check-he negotiated with Congressman. After leaving it to him, he adopted that stance, his Treasury Secretary Steven Mnuchin. Trump stagnated signing the bill on this issue, but eventually signed the bill.

Current Senate leader Mitch McConnell has rejected an independent bill to increase the value of checks, as the Democratic Party is trying to rule Congress and Congress following two Georgia Senate election wins. Approves increased relief spending, which Biden is likely to vote for.

New York Senate Democratic leader Chuck Schumer said one of the first bills he wanted to pass after becoming a majority leader in the Senate would raise the stimulus to $ 2,000.

How much does the recipient actually get?

Those eligible for the incentive payment may not receive the new $ 2,000 payment. Instead, they may receive $ 1,400, which concludes the $ 600 payment that began earlier this month-a total of $ 2,000. In a letter to his Democratic colleague sent this week, Schumer indicated that he was planning a payment that would increase his total payment to $ 2,000.

“The Democrats want to do more with the last bill and have promised to increase their direct payments to a total of $ 2,000 if they get the chance,” he wrote.

Eligibility for a $ 600 payment is primarily based on income. Individuals with an annual income of less than $ 75,000 will receive the full $ 600. Household heads with incomes less than $ 112,500 and couples with joint incomes less than $ 150,000 must also pay in full. You will receive $ 600 per child under the age of 17.

Payments will begin to be phased out for those who make more money, at a rate of $ 5 per $ 100 of additional income. According to a Tax Foundation analysis, it will be completely phased out for $ 87,000 for a single filer without children and $ 174,000 for a joint filing without children.

Undocumented migrants who do not have a Social Security number are not eligible for payment. However, with changes from the first round sent last spring, their spouse and children are now eligible as long as they have a Social Security number.

In the first round, the federal government sent qualified Americans a $ 1,200 payment. They were shipped primarily between April and August.

CNN’s Kate Sullivan contributed to the press.

Biden to put $2,000 stimulus payments back in play | Coronavirus Source link Biden to put $2,000 stimulus payments back in play | Coronavirus

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