3rd Stimulus Checks: Biden Expected to Unveil COVID-19 Relief Plan with $ 2,000 Payments
This is an archived article and the information in the article may be out of date. Please look at the history’s timestamp to see when it was last updated.
President-elect Joe Biden is expected to unveil a coronavirus relief plan on Thursday that includes the largest direct payment yet: $ 2,000 for most Americans.
Although the current price of the package is unknown, it is expected to include an extension of unemployment assistance, assistance to local and state governments, a boost to small businesses, funding for vaccine distribution and schools, and a third set of stimulus checks.
While a check for $ 2,000 might sound good, many people wonder if they would qualify. The short answer at the moment is that we don’t know. This information could be available as early as Thursday – and, of course, it could change during the debate.
With different thresholds for the first two payments, a plan passed in the House following pressure from President Trump for larger payments instead of $ 600 checks can provide us with a framework of qualifications.
Under this chamber, there was a phase-out structure. However, people earning up to $ 115,000 a year would still get a payout because of the higher amount on the check.
Marc Goldwin, senior policy director at the Committee for a Responsible Federal Budget, tweeted a breakdown of the $ 2,000 payments and how they work under the House proposal. Couples with children would qualify for the higher amount – up to $ 14,000 for a couple earning less than $ 150,000 with five children.
The previously adopted House plan also made it possible for adult dependents, such as college-age students, to be eligible for the $ 2,000 check.
Of course, just because it was a proposal from the Democratic-controlled House, doesn’t mean it will be Biden’s plan. However, it does provide a basis for what we might see.
Analysts say the vote on Biden’s stimulus package should give us some idea of whether or not Republicans will work with the Democratic majority or collectively draw a line in the sand.
West Virginia Democratic Senator Joe Manchin has indicated that he is not in favor of issuing large checks. Last week, he told the Washington Post, “absolutely not” about the idea of direct payments with such a high financial figure that are not specifically targeted.
Days later, he appeared to temper his tone during an appearance on CNN.
“It’s not a yes or no question,” Manchin told Jake Tapper on Sunday. “How is the money we invest now going to best help us find jobs and find work?” And I can’t tell you that sending another check is going to do that to somebody who already has a check.
Last week, Biden told voters in Georgia that if Democrats win these races, stimulus checks of $ 2,000 would be on the way for most Americans.
Eventually it happened, and Senate Minority Leader Chuck Schumer confirmed the money was on the way.
“One of the first things I want to do when our new senators are seated is hand over the $ 2,000 checks to American families,” said Schumer, who will become majority leader, on Wednesday.
Previously, the Senate and GOP-controlled Majority Leader Mitch McConnell had been the biggest obstacle to securing larger direct payments.
So when could this $ 2,000 payment become a reality? Probably early February at the earliest. Results in Georgia should first be certified before the new senators take their seats. Republicans are expected to file calls for the results. The deadline to certify the results is January 22, according to Yahoo News.
Suggest a correction