President Biden has agreed to narrow eligibility for a new round of $1,400 stimulus payments in his $1.9 trillion coronavirus relief bill, under pressure from moderate Senate Democrats who’ve pushed for more “targeted” spending in the bill.
Under the plan passed by the House last week, individuals earning below $75,000 per year and couples making up to $150,000 per year would qualify for the full $1,400 stimulus payment. The size of that payment begins diminishing for higher earners. Under the House plan, individuals making up to $100,000 per year and couples making up to $200,000 per year would receive a partial payment less than $1,400 per person, scaled down depending on income.
Under the changes agreed to by Biden and Senate Democratic leadership, individuals earning under $75,000 per year and couples earning under $150,000 would still receive the full $1,400 per person benefit. However, the benefit would disappear altogether for individuals earning more than $80,000 annually and couples earning more than $160,000.
That means singles making between $80,000 and $100,000, as well as couples earning between $160,000 and $200,000, are newly excluded from a partial benefit under Biden’s plan.