Third Stimulus Check Eligibility Change: Here s Who Won t Be Receiving $1,400 Payments
KEY POINTS
The new terms would leave out more than 16 million Americans
The changes come as the Senate prepares to take the $1.9 trillion relief bill to a vote
President Joe Biden on Wednesday agreed to limit eligibility for the third round of stimulus payments in his $1.9 trillion relief bill after coming under pressure from moderate Senate Democrats.
Like the previous rounds of relief payments, the full amount of the checks or direct deposits would go to single taxpayers with adjusted gross incomes of up to $75,000, heads of household earning up to $112,500 and married couples filing joint tax returns who earn up to $150,000 in income.
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Third Stimulus Check: Fewer Americans May Receive $1,400 Payments Because Of 16 Senators
KEY POINTS
The measure passed in a 58 - 42 vote
Individuals earning more than $50,000 and couples making over $100,000 may not receive relief payments
A bipartisan group of 16 senators on Thursday proposed an amendment to bar higher-income households from getting $1,400 stimulus checks.
Sen. Susan Collins, R-Me. and Sen. Joe Manchin, D-W.V., led the bipartisan effort to lower the income threshold for the payments.
The amendment passed in a 58-42 vote, with Senate Budget Committee chairman Bernie Sanders, D-Vt., voting in favor of sending checks only to lower- and moderate-income families. The measure did not specify a threshold for exclusion.
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A number of taxpayers who use tax preparation services, such as H&R Block and TurboTax, say their second relief payments were sent to the incorrect bank account, forcing them to wait longer for their money.