Posted on 03/05/2021 10:14:56 AM PST by Red Badger
A proposal by Senate Democrats to lower the income cap for COVID-19 stimulus checks would leave out nearly 12 million Americans, according to a new analysis.
Under the latest proposal, individuals earning up to $75,000 per year would receive $1,400 checks, but the payments would decline sharply up to $80,000, where they would phase out completely.
About 200 million Americans would get the stimulus checks under the new Senate plan, which is 11.8 million fewer than a relief bill passed by the House last week, according to estimates from the Institute on Taxation and Economic Policy. That bill sets a $100,000 income cap.
“The Senate bill would benefit 86 percent of adults and 85 percent of children, compared to 91 percent of adults and 90 percent of children under the House-passed bill. But among the bottom 60 percent of Americans, those who most need help, both versions of the proposal would benefit 100 percent of adults and children,” the Institute said.
“The cash payments in the Senate proposal would phase out for those with income exceeding $75,000 in the case of singles, $112,500 in the case of single parents, and $150,000 in the case of married couples–just as in the House-passed bill. However, the Senate Democrats propose to phase out the payments at a steeper rate. For example, the Senate version would phase the cash payments out entirely for singles with $80,000 of income, compared to $100,000 of income under the House-passed bill,” according to the analysis.
Open the economy today.
Millions lose out? How about tens of millions being bribed.
These stimulus payments to taxpayers are a tiny percentage of the overall package. Why waste time on such a small item, when there are hundreds of billions going to corrupt dem governments and donors?
And countries overseas?
“Stimulus” is simply THEFT by government and giving out crumbs that inexplicably many are getting addicted to!It is disgusting.
Meanwhile taxes go up. DemocRATS reap again.
Is there a reason why they can’t just extend unemployment benefits ? I don’t need a check I never stopped working (actually got more Overtime than usual).
It only took $2K to win Georgia’s 2 Senate Seats.
FWIW, the amount being cut from the bill is chicken feed compared to the billions being wasted on failed red state/city bailouts, democrap pork projects and the like.
Hey!
We’re talking rich people here! /s
LOL
I don’t need nor do I want another foolish check from the government.
The only part of this monstrosity they are willing to cut is the 9% that actually goes to the American working class. What does that tell you.
I’m still waiting on the $600 that went out in December. It is true that I always snail- mail my tax return. January 15th, the gov’t announced all the checks had been sent out. In late January, I did go online to ask what happened, they sent me a form letter saying they were “still gathering information.” I did not die, change address,, change marital status or any other change. There is a rumor that there is a fax form a available to send in on April 15th stating a claim, but I have to say, not very impressed with gov’t “workers.”
“Is there a reason why they can’t just extend unemployment benefits ?:
My wife’s SIL was getting $38k a year to not work while on unemployment.
The IRS 1040 booklet has a line 30 on page 2 for rebate recovery. One of us got it and the other did not. Seems odd as the last one came to both, at the same time, in separate checks.
I wonder, are they talking GROSS or NET?.....................
I wonder how much of this $$$$ will go into the coffers of Vegas casinos.
Uh....you do realize who is running this shiteshow, right? It’s not real American Patriots by any stretch of the imagination.
Or strip joints all across the land...................
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