$ 1,400 stimulus check: House Democrats’ plan would exclude families earning more than $ 200,000

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Comparison of Biden and GOP stimulus packages

But the payments would be phased out faster than in previous cycles and completely cut off people earning more than $ 100,000 and couples earning more than $ 200,000, according to the text of the bill, which the House Ways and Means Committee is due to have. debate Wednesday.

According to the plan presented on Monday by President Richard Neal, a Democrat from Massachusetts, full payment would go to people earning less than $ 75,000 a year and married couples earning less than $ 150,000 – like previous stimulus checks. Joint filers would receive $ 2,800 plus $ 1,400 per dependent.

That wouldn’t restrict eligibility as significantly as a Republican-backed proposal, which would have excluded around 29 million households that received payments earlier.

The GOP plan called for smaller payments of $ 1,000 to people earning less than $ 40,000 a year and couples earning less than $ 80,000. The payments would disappear more quickly, cutting off people earning over $ 50,000 and couples over $ 100,000.

After meeting with Republicans last week, President Joe Biden has indicated his willingness to lower income thresholds. Treasury Secretary Janet Yellen told CNN on Sunday that the president was “willing to work with Congress to find a good structure for these payments.”
Biden has said he would like bipartisan support for his $ 1.9 trillion Covid relief bill, but wants to put money in the pockets of struggling Americans as soon as possible. Democrats in Congress are moving forward with a legislative process known as reconciliation that will make it easier to pass a bill without Republican backing.

But for the Senate to pass the bill, Democrats are likely to need the vote of Senator Joe Manchin, a moderate Democrat from West Virginia. He also suggested that a new round of stimulus payments should be more focused than previous rounds.

There is still a long way to go before the final text of the bill is passed and income thresholds may change. Lawmakers hope to pass the legislation by March 14.

Lauren Fox of CNN contributed to this report.

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