Treasury Secretary Janey Yellen said on Sunday that Americans earning $ 60,000 should be eligible to receive the $ 1,400 trillion check from President Joe Biden’s $ 1.9 trillion aid package.
On Friday morning, the Democratic-led Senate supported Biden’s American Rescue Plan with Vice President Kamala Harris casting the tiebreaker in a budget resolution, paving the way for the president to deliver his aid package quickly without the support from the Republican Party. But the White House says the revenue cap for direct payments is still under negotiation.
Income eligibility was initially set at $ 75,000, according to the first two rounds of checks. But Republicans want to lower the cap, and moderate Democrat Joe Manchin of West Virginia has called for payments to be no more than $ 50,000.
Yellen told CNN host Jake Tapper on Sunday that Americans who earn $ 60,000 should receive payments. “If you think of an elementary school teacher or a police officer who earns $ 60,000 a year and comes across children who are out of school and people who may have been taken out of the workforce to care for them and lots of extra burdens, [Biden] thinks, and I would certainly agree, that it is appropriate for people there to get support, “she said.
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Tapper encouraged Yellen to clarify his position, asking, “You definitely think more than $ 50,000 per individual, but you are not necessarily willing to commit to $ 75,000, is that what I’m hearing?”
“Yes,” she 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.”
House Speaker Nancy Pelosi indicated on Friday that the stimulus package, which provides for checks, will be approved by Congress “before the end of February”. At a news conference, the top Democrat explained that the party plans to “start working on the details of the bill” on Monday, and will send something to the Senate “hopefully in two weeks”.
Senate Republicans pushed for the size of checks, which they believe to be very expensive, but Biden refused.
“Here is what I am not going to do: I am not going to cut the size of checks. They will cost $ 1,400. Period. That is what was promised to the American people,” said the president.
Americans should expect the third check to be much more targeted than the previous two payments, as the Senate overwhelmingly approved a bipartisan proposal – led by Senators Manchin and Susan Collins of Maine – that prevents “high-income taxpayers” receive it.
Newsweek contacted the White House for comment.