Democrats are implementing a plan to send $ 1,400 in stimulus payments to Americans earning up to $ 75,000 a year.

Feb 09, 2021 Travel News

Democrats are implementing a plan to send $ 1,400 in stimulus payments to Americans earning up to $ 75,000 a year.

On Monday, House Democrats rolled out a key piece of President Biden’s stimulus package, proposing legislation to send out-of-pocket payments of $ 1,400 to Americans earning up to $ 75,000 and households with incomes of up to $ 150,000 .

The plan, written the day before a scheduled major committee meeting to review it, is at odds with proposals from some moderate Republicans and Democrats who want to reduce eligibility for out-of-pocket payments, targeting it on low-income people. Mr Biden said he was open to such changes.

For now, the measure would allow individuals earning up to $ 100,000 and households earning up to $ 200,000 to be eligible for payment, though check size is phased out for those with income over 75,000. $, or $ 150,000 for a family.

The bill, unveiled by Rep. Richard E. Neal, Democrat of Massachusetts and chairman of the Ways and Means Committee, was part of a series Democrats introduced on Monday ahead of a week of legislative work to solidify the details of the relaunch of Mr. Biden. proposal.

The move to keep the income cap at the same level as the latest round of stimulus payments comes after days of debate in the House Democratic caucus over the size of checks, as some moderates pushed to limit the total amount to those earning $ 50,000 or less and households earning up to $ 100,000.

The legislation also includes a series of significant tax code changes and an increase in the extension of weekly federal unemployment benefits. It would increase the payment from $ 300 per week to $ 400 per week and continue the program – currently supposed to start expiring in March – until the end of August.

The $ 1.9 trillion plan would also provide billions of dollars for schools and colleges, small businesses, and a provision that would raise the federal minimum wage to $ 15 by 2025, a progressive priority.