The next round of stimulus checks will not include individuals who earn more than $160,000 a year.
President Joe Biden has agreed to limit the eligibility for the latest round of stimulus payments. These stimulus payments are part of the $1.9 trillion coronavirus relief bill and are worth $1,400 per eligible person. The Senate passed the bill on March 6, 2021.
People who make up to $75,000 a year, according to their most recent tax returns, will still qualify for the entire payment. Couples filing jointly will get the full payment if they have a joint total income of $150,000 or less.
Above that limit, the amount of money decreases, and individuals who earn more than $80,000 per year or $160,000 per year as joint filers will not be entitled to any of the stimulus funds.
In the White House press conference held on March 3, 2021, Press Secretary Jen Psaki was asked the question, "Can you confirm that the President has signed off on these reduced income thresholds as it relates to those direct payments?" Psaki responded by saying, "[Biden] has been firm on the importance of the $1,400 checks going out to Americans. So, as we've seen in the reporting, it's 75K and 150K. He has been clear that those are important thresholds to him."
The checks are to phase out faster for people at higher income levels than in Biden's initial proposal passed on February 27, 2021. The Washington Post quoted an anonymous Democrat as saying, "Individuals earning less than $75,000 annually and couples earning less than $150,000 will still receive the full $1,400 payment."
The Wall Street Journal cited data from the Institute on Taxation and Economic Policy and stated that 17 million fewer Americans, including five million children, would receive stimulus checks in the updated proposal compared to previous rounds of relief.
Biden's $1.9 trillion-proposal passed in the House on February 27, 2021, with no support from Republicans and two Democrats defecting in a 219-212 vote.
The COVID-19 pandemic has given rise to a lot of potentially dangerous misinformation. For reliable advice on COVID-19 including symptoms, prevention and available treatment, please refer to the World Health Organisation or your national healthcare authority.