- The House of Representatives approved President Biden’s $ 1.9 trillion stimulus package including checks for $ 1,400
- However, many people would receive more than the $ 1,400 stipulated as direct payments to taxpayers.
- Biden’s proposal would give nearly $ 3,600 in total financial aid to the poorest Americans
The House Budget Committee approved the $ 1.9 trillion bill proposed by President Joe Biden on Monday, USA Today reported.
With a vote of 19 to 16 the bill now goes to the House Rules Committee, to continue its legislative process towards the approval of the stimulus in the plenary session of the House of Representatives.
The Biden stimulus is expected to be voted on soon, paving the way for a third $ 1,400 coronavirus relief check.
However, lawmakers are still working out the details related to eligibility as many people could receive stimulus checks for amounts over $ 1,400, it reported. BGR.
According to the reviewed outlet, the lowest income Americans will be among the people who will receive the most money with the third stimulus payment.
According to an analysis by the Institute on Taxation and Economic Policy, a left-leaning nonpartisan think tank, Biden’s proposal would give nearly $ 3,600 in total financial aid to the poorest Americans.
According to the institute, 20% of Americans who earn less than $ 21,300 a year would receive $ 3,590 on average according to Biden’s bill.
The figure would increase due to the sum of the 1,400 dollars of direct payments plus the expansions of the Child Tax Credit and the Earned Income Tax Credit.
Additionally, President Biden’s proposal contemplates payments of $ 1,400 for any dependent.
The promoters of the $ 1.9 trillion stimulus plan hope to approve it in March, before unemployment benefits expire.
Democratic leaders have a strong dynamic on their side, as Congress prepares for its first vote on economic aid for the COVID-19 pandemic: Would any Democrat dare to cast the vote that rejects the first initiative of the President Joe Biden?
A very slim 10-seat Democratic majority in the House of Representatives leaves little room, in the face of solid Republican opposition.
There are people who would not receive the third aid check for coronavirus: Who is part of that group and why?
Not all Americans will receive federal aid, as this will basically depend on the income of each individual or family. The goal of President Biden and the Democrats is to get the funds to the most financially needy.
Now, not everyone will receive the $ 1,400 in full. Again, that will depend directly on your income and the calculations that the Internal Revenue Service (IRS) performs to determine how much you are entitled to.
In the House of Representatives, they rejected the eligibility restriction, so for this third payment round the same income limits that were used in the previous two would be maintained, La Opinion reported. It would only subtract the ‘approval’ of the Senate on these limits.
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