Individuals who earn at least $80,000 a year, heads of households who earn at least $120,000 and married couples who earn at least $160,000 will be completely cut off from the third round of stimulus payments – regardless of how many children they have. Related: How much will your stimulus check be? Use this calculator But then the payments phase out as income goes up – faster than previous stimulus payments. The full amount goes to individuals earning less than $75,000 of adjusted gross income, heads of households (like single parents) earning less than $112,500 and married couples earning less than $150,000. A married couple with two children, for example, could receive up to $5,600. The bill provides direct payments worth up to $1,400 per person that will reach about 90% of households, according to an estimate from the Penn Wharton Budget Model.įamilies get an additional $1,400 per child. But lawmakers did make three notable changes – narrowing eligibility for the stimulus checks, trimming the federal boost to unemployment benefits and nixing an increase in the federal minimum wage to $15 an hour. Much of the legislation mirrors the plan laid out by Biden in January. The President is expected to sign the bill into law later this week. The House of Representatives voted Wednesday to approve a $1.9 trillion Covid relief plan, a top legislative priority for President Joe Biden.
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