Biden tightens $1,400 stimulus check income limits amid pressure from moderate Dems

President Joe Biden speaks during a virtual meeting with the House Democratic caucus at the White House yesterday

President Joe Biden speaks during a virtual meeting with the House Democratic caucus at the White House yesterday

News is citing sources that say the agreement would allow for full $1,400 payments for individuals earning up to $75,000 with amounts decreasing incrementally above that income level. That means people who lost jobs or income in 2020 but have not yet filed their taxes might miss out on the full value of the payment for weeks or, possibly, until tax time next year.

But the same households will receive the full payment of $1,400 per person, including children.

The new plan would completely deny payments to individuals earning more than $80,000 annually and married couples earning more than $160,000.

A preliminary analysis from the left-leaning Institute of Taxation and Economic Policy indicates roughly 16 million fewer Americans do not qualify for a third check under the new design of the plan, compared to the House version of the bill. Under both bills, everyone in the bottom 60% of Americans would benefit.

White House press secretary Jen Psaki told reporters at the White House that Biden is pleased with the progress on the bill and has always been aware that there would be suggestions and negotiations while finalizing the bill. "Of course, there are going to be ongoing discussions".

A provision raising the minimum wage was included in the initial relief bill, but the Senate parliamentarian ruled last week it could not be included under the "Byrd rule", which requires provisions included in a bill passed through reconciliation be budget-related. Those benefits would extend until mid-August.

Senate Democrats were removing $1.5 million for a bridge between NY state and Canada and around $140 million for a rapid transit project south of San Francisco after Republicans cast both as pet projects f or Schumer and House Speaker Nancy Pelosi, D-Calif.

The changes are a nod to moderate Democrats in the Senate who have pushed for a more targeted approach to a third round of stimulus payments. Mr. Biden also met with moderate Senate Democrats at the White House on Monday to discuss the legislation. Michael Bennet of Colorado told reporters on Wednesday. Senator Ron Johnson said he would insist that the entire bill, hundreds of pages long, be read to the Senate at the start of the debate, instead of the usual practice of just reading the title. "I think we're really in a good spot and, frankly, and the most important thing is to get this done". But House Ways and Means Committee Chair Richard Neal said that he was "open to changes in the phase out". The Democrats can not afford any defections if they hope to pass it with a simple majority.

"As families across New Jersey and our country continue to feel the economic pain brought on by the coronavirus pandemic, it's incumbent upon Congress to take bold action to help the hardest-hit Americans", Booker said.

Most amendments are expected to be offered by Republicans seeking to make the process politically painful for Democrats, but Senator Bernie Sanders has said he will introduce an amendment to raise the minimum wage to $15 an hour. Although she said she "can't stand" that the bill is not entirely focused on the coronavirus, she called herself "Listening Lisa" because she would be listening to what the final proposal would be.

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