- The White House’s $1.9 trillion American Rescue Plan — which was approved early Friday morning by the Senate and now heads to the House — will look to provide aid to people suffering during the COVID-19 pandemic, which includes stimulus checks.
- Here’s a quick breakdown of everything that we know so far.
Who gets the full $1,400 payment?
Per The Washington Post, the $1,400 wouldn’t necessarily go to everyone.
- Under the current plan, people who make under $50,000 would get the full $1,400.
- Married couples who earn up to $100,000 would get $2,800.
- Heads of households who earn $75,000 would also qualify.
- “Similar to the prior rounds of stimulus checks, people who earn slightly above those thresholds would still qualify for a partial payment,” according to The Washington Post.
What about children?
Parents would receive an extra $1,400 per child, according to NPR. So, if you add it up, a family of four would get $5,600. Nice.
When do the checks come out?
Biden said it could take weeks to finalize the legislative deal that would send checks to everyone, according to the Deseret News. However, policy experts believe the relief will be scaled down and not as the current plans suggest.
What happened with the last checks?
In December, the Trump administration got Congress to approve a $600 stimulus check, as the Deseret News reported. For those checks, taxpayers with a 2019 adjusted gross income up to $75,000 received a $600 stimulus payment. Couples who earned up to $150,000 received a $1,200 check.
- And, as the Deseret News reported, parents or guardians received an additional $600 for each dependent child that is younger than 17 years old. That is $100 more per child than what was paid for dependents under the CARES Act emergency aid passed in the spring at the beginning of the pandemic.
- Individual taxpayers who made up to $75,000 annually qualified for a $1,200 impact payment. Meanwhile, married couples who made up to $150,000 got $2,400.
- Parents received $500 extra per child during the first stimulus package.
- The stimulus bill was then prorated for anyone who made above that threshold.