Third stimulus checks: With the impeachment trial over, when could $1,400 payments be approved? – Honolulu, Hawaii

Honolulu, Hawaii 2021-02-17 15:58:30 –

President Donald Trump’s name will appear on a coronavirus financial assistance check sent to citizens across the country on April 29, 2020 in Washington, DC. (Photo by Chip Somodevilla / Getty Images)

Washington (NEXSTAR) — President Joe Biden attended CNN Town Hall on Tuesday night with the aim of selling his $ 1.9 trillion coronavirus aid package directly to Americans.

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This is part of the White House’s efforts to put pressure on Republicans and refocus Congress on the swift passage of the bill, now that the impeachment trial of its predecessor is behind him.

The proposed package includes direct relief for most Americans in the form of a $ 1,400 stimulus check.

At the Milwaukee Town Hall on Tuesday, Biden showed that he was ready to negotiate some of the controversial factors at his place, such as the minimum wage of $ 15. Many Republicans argue that Biden’s plans are simply too expensive. Because of that concern, the process of approving the new president’s plan went slower than some expected.

Whether to receive a check is in which direction Biden or Democratic leaders will go as the proposal passes the committee over the next few weeks, with the goal of completing additional bailouts by mid-March. Depends on. So far, lawmakers are taking a break until next week.

Under the latest plan, anyone with an income of $ 75,000 or less will receive the full amount of $ 1,400. This means that couples with incomes less than $ 150,000 will receive $ 2,800.

According to its first proposal, the check will be phased out a little earlier than the previous round. Individuals with incomes over $ 100,000 and couples with incomes over $ 200,000 will not receive any additional money. As we saw in other direct payment rounds, those who earn a threshold of $ 75,000 or more and less than $ 100,000 can collect less payments.

The draft includes dependent payment eligibility — this time including college students. Previous stimulation rounds did not include dependents over the age of 17.

Under the law, dependents are eligible for a full $ 1,400 payment. This means that a family of two parents and two children can receive up to $ 5,600.

Biden’s first proposal demanded a $ 115,000 cap — and other plans from lawmakers sought a low “phasing out” of $ 40,000.

“We can’t spend much money. Now is the time we should spend. It’s time to grow,” Biden said Tuesday night about the scale of the proposal.

We still don’t know where the process will go from here, as it can definitely change in the coming weeks. Many wanted the end of the impeachment trial to mean a focus on bailouts. However, attention is shifting to how the January 6th attack on the US Capitol occurred.

Democratic leaders said they would take steps to form an independent investigative commission modeled after studying security failures prior to the 9/11 attack.

The promotion of stimulus measures will take place in new signs of weakening the US economy. According to the Ministry of Labor, employers cut 227,000 jobs in December and then added only 49,000 jobs in January. Last month, restaurants, retailers, manufacturers, and even the healthcare sector cut down on workers. This means that private employers accounted for a small increase in 6,000 jobs.

“You can come back in six months to a year and a half,” Biden said on Tuesday night.

The unemployment rate has fallen from 6.7% to 6.3%, but the number of people working or looking for a job has declined as a sign that some people are leaving the workforce. The US economy has 9.9 million shy jobs at pre-pandemic levels.

The Associated Press contributed to this report.

Third stimulus checks: With the impeachment trial over, when could $1,400 payments be approved? Source link Third stimulus checks: With the impeachment trial over, when could $1,400 payments be approved?

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