Yellen Focuses On $ 60,000 Threshold For Stimulus Checks

Secretary of the Treasury Janet YellenJanet Louise YellenSunday Shows Sneak Peek: Budget Resolution Paves Way For 0.9 Trillion Stimulus; Senate prepares for impeachment trial More than 200 Obama officials sign letter supporting Biden’s stimulus package Biden’s economic adviser calls Summers ‘completely bogus’ with remarks on inflation MORE said on Sunday she believed income levels identified by conservative Democratic senators to restrict Americans receiving direct payments under the Biden administration’s COVID-19 aid program were too low.

Talk to CNN Jake tapperJacob (Jake) Paul Tapper Without Trump, late-night ‘comedy’ becomes even more unbearable CNN’s Gupta ‘stunned’ Cuomo said he didn’t trust health experts Officials are bracing for Trump’s second impeachment trial MORE On “State of the Union,” Yellen said she believed Americans earning $ 60,000 a year should be eligible for direct payments, a figure higher than that identified by senators such as Joe manchinJoseph (Joe) ManchinSanders criticizes Democrats for slashing stimulus check eligibility The Memo: Bad Jobs report bolsters Biden stimulus case Biden expects minimum wage hike to be removed from PLUS final relief bill (DW.Va.), who called for payments to phase out to the income level of $ 50,000 per year.

“[I]If you think of an elementary school teacher or a police officer who earns $ 60,000 a year, and is confronted with children who are out of school and people who may have had to withdraw from the workforce to be successful. take care of them and many additional burdens, [President Biden] thinks, and I would certainly agree, that it’s appropriate for the people there to get support, ”Yellen said.

Yellen added that the White House was negotiating with Congress “to define what is fair” in terms of income levels for direct payments in a stimulus package, telling Tapper that middle-class families in difficulty “also need help”.

“So you’re definitely thinking over $ 50,000 per person, but you’re not necessarily willing to commit to $ 75,000, is that what I’m hearing?” Tapper asked, referring to the level at which payments were phased out in the package adopted in December.

“Yes,” the secretary replied. “I think the details can be worked out. And the president is certainly willing to work with Congress to find a good structure for these payments.”

Senate Democrats have indicated they are prepared to pass Biden’s $ 1.9 trillion COVID-19 relief package without Republican backing after a group of 10 Republican senators proposed a framework this week last which totaled $ 600 billion, far less than what the Democrats asked for.

Democratic leaders, including the president Nancy PelosiNancy Pelosi Missouri man seen with Pelosi nameplate accused in connection with Capitol Riot Republicans fear Greene will be dragged to suburban party Claudia Tenney wins race at New York House MORE (D-Calif.) Said they expected the package to pass within two weeks.