Here’s How Democrats Will Cap Relief Checks at $200,000 Income
(Bloomberg) -- Draft legislation released Monday by the House Ways and Means Committee shows that the proposed $1,400 pandemic-relief payments in the coming stimulus package in Congress scale down more quickly than previous rounds.
The first aid checks, approved in the Cares Act last March, started at $1,200 before they began phasing out. House Democrats are proposing to limit the next round to households earning less than $200,000.
What you could get versus Cares Act:
| Single | Married | Married with two dependents | |
Up to $75,000 single, $150,000 married | $1,400 ($1,200 in Cares Act) | $2,800 ($2,400) | $5,600 ($3,400) |
$87,500 single, $175,000 married | $700 ($575) | $1,400 ($1,175) | $2,800 ($2,175) |
$100,000 single, $200,000 married | $0 ($0) | $0 ($0) | $0 ($925) |
©2021 Bloomberg L.P.
