There is no stimulus package bill yet and that is what the House of Representatives will be working on over the next two weeks.
House Speaker Nancy Pelosi expects to beat the deadline to pass President Joe Biden’s $1.9 billion pandemic relief package by March 14, she said earlier this month in an interview on C-SPAN. That means the IRS could begin mailing the third stimulus check before that date. Pelosi projected passage of a bill in the House that could be ready “before the end of February,” she said Friday via a statement.
The stimulus package would include a third stimulus check of up to $1,400 per person. Pelosi’s statement comes after a late-night session in the Senate approved funding for Biden’s plan and is now preparing to fast-track approval of a stimulus package.
It is important to keep in mind that there is still no stimulus package bill to vote on and that is what the House will be working on over the next two weeks.
Remember that hurdles and delays may still present themselves, including the usual negotiation process over legal details, in addition to the impeachment trial of former President Donald Trump that begins on February 9. While the trial is expected to move quickly, it could delay the stimulus bill.
Who may NOT receive the third $1,400 stimulus check
President Biden is willing to limit people’s eligibility for the stimulus check.
A majority in the Senate wants to prevent the nation’s wealthiest people from receiving a third stimulus check. That’s why the chamber voted 99 to 1 on an amendment, proposed by Senators Joe Manchin and Susan Collins, so that those with large incomes would not get the economic support.
“The question before us is pretty simple. Do we want the stimulus checks to go to households with household incomes of $300,000? Or do we want to target assistance to struggling families who need help and provide a boost to the economy?” said Collins during the vote.
This broad support for the amendment suggests that lawmakers are open to lowering the income threshold for delivering a third stimulus check.
While the amendment does not specify the eligibility levels of individuals to receive the checks, it does hint that lawmakers from both parties agree that the payments would be more effective if they were distributed in a more targeted manner to low-income Americans.
President Biden has signaled that he is willing to limit eligibility for the stimulus check.
On the other hand, Sen. Bernie Sanders said on the Senate floor that no one supported sending money to families earning more than $300,000 a year, but urged his colleagues to keep the threshold level in line with the first two stimulus checks.
“I’m not opposed to this amendment. I don’t think anyone here wants people making $300,000 to get direct payments. Let’s make sure that people making $75,000 a year or less get their payments and couples making $150,000 or less get their payments,” Sanders said.