COVID-19 Relief Law - New Congressional Stimulus News
House Democrats will move ahead with a coronavirus stimulus package that would keep the existing income limits for Americans who receive stimulus checks, while tightening eligibility for higher-earning Americans — a major win for progressives.
The plan, which was unveiled Monday night, would keep $1,400 stimulus checks flowing to Americans making up to $75,000 a year — rather than the $50,000 threshold that some moderate Democrats had proposed. It would, however, tighten eligibility for those making over $75,000 as an individual — a higher-earning group that previously qualified for smaller checks.
The tax-writing panel has a huge portion of the relief plan, including a boost in federal unemployment benefits and a major expansion of child tax benefits. The proposal released Monday would expand the popular tax credit for having kids to as much as $3,600 per child, up from the current $2,000 while aiming to allow recipients to claim a portion of the break each month in the form of a check from the government.
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Full link here: https://waysandmeans.house.gov/sites/democrats.waysandmeans.house.gov/files/documents/7.%20Tax.pdf
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