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What will the new stimulus package being discussed in Congress include?

What will the new stimulus package being discussed in Congress include

Under the draft plan the third stimulus check eligibility for individuals will be based on taxpayers’ income tax returns for the years 2019 or 2020.

House leaders on Monday rejected a proposal to send $1,400 stimulus checks only to people making less than $50,000 a year, keeping in place the income levels that were used to determine who was eligible for the previous two stimulus payments.

The call for the third stimulus check to be targeted to fewer people has sparked fights within the Democratic Party, with progressives calling for the checks to go to people who received the first two and moderates, such as West Virginia Sen. Joe Manchin, calling for more fiscal restraint.

On Monday, House Ways and Means Chairman Richard E. Neal, a Democrat, unveiled legislation that would send the full stimulus payment to people making $75,000 a year and couples making $150,000 a year, the same measure used to determine who received the first two payments.

Single individuals earning $100,000 a year and couples earning $200,000 will not receive stimulus payments. According to the draft plan the stimulus checks will be based on taxpayers’ 2019 or 2020 income tax returns. In addition to direct payments, the draft will provide funding for cities and states, unemployment and a child income tax credit.

These are the details of the House Ways and Means Committee’s proposal, which is expected to be voted on by the end of the week:

  • Health insurance: The bill would cover 85% of the cost of health premiums for laid-off workers.
    Nursing Home Funding: The bill would provide nearly $500 million to help nursing homes improve their infection control practices.
  • Child Income Tax Credit: For parents with certain incomes, the credit would provide $3,600 for each child under age 6. The money would be paid monthly. Parents of a child over age 6 would receive $3,000 a year.
  • Unemployment benefits: Federal unemployment benefits would be extended from mid-March through August 29 and would increase to $400 per week.
  • Minimum wage: A $15 minimum wage would be included in the plan.
  • Self-employment supports: Self-employed workers and contractors would see their unemployment benefits extended.
  • Paid leave: Benefits for workers on paid leave and tax credits for employers with fewer than 500 employees would be funded to reimburse the cost of leave.

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