Congress is about to pass and President Joe Biden is about to sign into law a $1.9 trillion COVID-19 stimulus package that includes $1,400 checks to millions of Americans.
Republican lawmakers — even those who once supported former President Donald Trump’s calls for bigger stimulus checks — have opposed the legislation as a progressive “wish list” and “blue state bailout.”
- Nonetheless, Democrats pushed the sweeping 591-page bill through the Senate on Saturday in a purely party-line vote and were expected to give it final approval in the House on Tuesday.
The checks: Biden, in remarks after the Senate vote, said Americans can expect to start receiving their stimulus checks this month. But which Americans exactly?
- Individuals who earn as much as $75,000, or couples making $150,000, plus their children and adult dependents, qualify for the full $1,400 per person.
- Single parents with at least one dependent who earn $112,500 or less also get the entire amount.
- Due to a last-minute Democratic deal, the payments phase out much more quickly than in previous rounds: Individuals making $80,000 or married couples making $160,000 receive nothing.
The IRS will determine who gets what based on the most recent adjusted gross income data in its system.
- If you haven’t yet submitted your 2020 taxes, the agency will rely on your 2019 income.
- But if your income decreases in 2021, you can claim your stimulus check when you file your taxes next year.
More good news?: A family only needs one citizen with a Social Security number in order to qualify.
