- Democrats are moving to propose a plan that would lower the income cap for a third wave of stimulus checks.
- Individuals who earn $ 50,000 or less would receive a full check.
- The Biden government said it plans to release payments by mid-March at the latest.
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Democrats are coming up with a new proposal that would restrict the number of people eligible for a third stimulus check, a source familiar with internal discussions confirmed to Insider.
The most recent version of the plan would provide a payment of $ 1,400 for individuals earning $ 50,000 or less. Couples who earn $ 100,000 or less will receive a full check.
In addition, heads of households who earn $ 120,000 or less would receive full cash payment as well.
The person obtained anonymity to discuss ongoing conversations, but stressed that the plan was not final and was still subject to change. The Washington Post reported for the first time that Democrats were exploring proposals to adjust the amount of the cashier’s check.
In recent months, President Joe Biden has prioritized sending stimulus checks as the United States fights the pandemic. Biden and the senior Democrats are pushing to complete the $ 600 stimulus payments with an extra $ 1,400, bringing the total amount distributed since December to $ 2,000.
The third round of payments would be aimed at the bottom of the income scale, as requests in Congress increase to direct checks to Americans who need them most.
The Biden rescue package would currently provide full payments of $ 1,400 to individuals who earn $ 75,000 or less and couples who earn $ 150,000 or less. Parents with children would also receive an extra $ 1,400 per child, which means that a family of four could receive $ 5,600.
The timing of stimulus payments depends on when aid packages were approved. Democrats in both chambers of Congress have begun the reconciliation process to prepare for the approval of the entire $ 1.9 trillion package without Republican votes.
Biden, along with other senior White House officials, say they are open to negotiating revenue limits on stimulus checks.
“More segmentation means not the size of the check, but the level of income of the people who receive the check,” said White House press secretary Jen Psaki on Wednesday. “This is something that is under discussion.”
Democrats plan to pass legislation before mid-March, when increased unemployment benefits are set to expire for millions of Americans.