- Under the new president, Joe Biden’s leadership, the US government is racing to approve a $1.9 trillion stimulus package for the unemployed Americans
- The eligibility criteria for people to receive the $1400 check has been changed recently
- The new change will lead to about 17 million citizens losing out on the package
As COVID-19 shows signs of slowing down, it’s time for the people to start rebuilding their lives. One of the most affected countries was the US. It saw more than 20 million people unemployed, with the rates still showing no signs of slowing down. However, as a glimmer of hope, the Senate had passed a $1.9 trillion bailout package by a slim majority.
Latest eligibility criteria
Earlier, any individual with an income of lower than $100,000 and couples with less than $200,000 was eligible to receive the $1,400 check. However, to win the requisite support in the House, president Biden tweaked the criteria as mentioned below;
Citizens with salaries less than $75,000 and couples earning less than $150,000 combined would receive the complete check of $1,400 before eventually getting phased out.
Couples earning more than $160,000 and individual tax-payers earning more than $80,000 are NOT eligible for the stimulus check.
This change would lead to about 17 million American citizens missing out on the stimulus package. However, conservatives argue that these new changes would save more money for the poorest of Americans to procure basic essential needs.
Help is imminent
In a survey, the Bureau of Labor Statistics found out that the first pay-off was $1,200. This was spent buying food, paying rent, and procuring affordable life insurances. Currently, unemployed citizens receive $400 every week as emergency federal unemployment benefits. However, that scheme would run out on March 14th, and the Senators are racing against time to pass the new bill for Biden’s signature. With these new changes incorporated, almost all Democrats will be on board and will ensure its swift final House passage, which may even occur as early as 8th March. The IRS will also consider people whose incomes have dropped below the slab due to the pandemic, however, on the condition that people have already filed their 2020 taxes.
If all things go according to plan, people may begin receiving their stimulus checks by the third week of March.