Things are looking promising for the next coronavirus relief bill. Senate Majority Leader Chuck Schumer has affirmed the country that President Biden’s $1.9 trillion relief bill should be passed this week.
President Biden and Senate Democrats have bargained with Senate Republicans to get the stimulus bill rolling. A compromise was made on eligibility for direct stimulus checks, lowering the income level for those who would qualify for payments.
Who will receive stimulus checks?
Under the new agreement, the $1,400 direct payments to taxpayers will begin to phase out at $75,000 for individuals, with no one making more than $80,000 eligible for payments. For couples who file jointly, the phase-out will begin for those making $150,000 and end at $160,000.
“We want to get the biggest, strongest, boldest bill that can pass. And that’s what we are working to do,” said Schumer. “We’ll have the votes we need to pass the bill.”
The Senate bill also includes $400 per week in supplemental unemployment insurance benefits, which are set to expire on March 14. Those benefits would extend until mid-August. Senator Joe Manchin, who has quickly become one of the most influential lawmakers in the Senate, had suggested that the benefits be lowered to $300 per week.
In addition, Senator Bernie Sanders, the chair of the Senate Budget Committee, has said he will be introducing an amendment to raise the federal minimum wage to $15 per hour.
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