Third stimulus checks: Democrats could phase out $1,400 payments at $50,000/year

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WASHINGTON (NEXSTAR) — Over the last few days, President Joe Biden has indicated he’s willing to “target” $1,400 stimulus checks to Americans most in need in an effort to find bipartisan ground with Republican lawmakers. According to multiple reports, plans are being drawn up to phase out direct payments at $50,000 per year.

According to The Washington post, that would mean $1,400 checks for anyone making less than $50,000 and $2,800 for married couples earning $100,000 or less. If an individual was considered the head of house and earning up to $75,000, he or she would also qualify.

Just as we’ve seen with other rounds of direct payments, people who earn more than those thresholds would be able to collect smaller payments.

The Washington Post reports parents of children would collect an addition $1,400 per kid. For example, a married couple with three children could receive up to $7,000.

fox59.com/news/coronavirus/third-stimulus-checks-democrats-could-phase-out-1400-payments-at-50000-year/

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