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Tags: covid | stimulus | checks | income

More Voices Push to Lower Income Maximum on COVID-19 Payments

More Voices Push to Lower Income Maximum on COVID-19 Payments

(Siraj Ahmad/Dreamstime.com)

 

By    |   Friday, 05 February 2021 05:12 PM EST

Leading Democrats are considering lowering the income maximum for individuals to receive the third round of so-called COVID-19 stimulus checks, with the U.S. Chamber of Commerce calling for denying those making more than $50,000 and the Republicans having already sought to cap the amount at $40,000.

The Washington Post reported on Tuesday that the White House was open to reducing the maximum income earned but keeping the payments at $1,400 per person. That was also the day that the U.S. Chamber of Commerce wrote to President Joe Biden and Congress saying that those earning more than $50,000 annually essentially did not need it.

"While the pandemic induced recession has created near unprecedented levels of hardship, the impact has not been universal," the Chamber wrote. "The Census Bureau Pulse survey indicates that while a majority of households with less than $50,000 in income have experienced a loss of employment income, a majority of households with more than $50,000 in income — including those between $50,000 and $150,000 — have not experienced any loss in earned income."

Previous checks have been distributed to individuals earning $75,000 or less and couples earning no more than $150,000.

Sen. Joe Manchin, D-W.V., who is a critical vote in the evenly divided Senate, has insisted the so-called stimulus be ''targeted,'' Newsweek reported.

Republicans on Monday offered a proposal that would limit $1,000 payments to those making $40,000 or less and gradually reduce that up to those making $50,000, according to CNBC.

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Politics
Leading Democrats are considering lowering the income maximum for individuals to receive the third round of so-called COVID-19 stimulus checks, with the U.S. Chamber of Commerce calling for denying those making more than $50,000 and the Republicans having already sought to...
covid, stimulus, checks, income
245
2021-12-05
Friday, 05 February 2021 05:12 PM
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