Biden Signals Support For Targeting Stimulus Checks To Low- & Middle-Income Families

After meeting with Senate Republicans, President Biden’s signaled he’s considering targeting stimulus checks to Americans to only low- and middle-income families. From the Washington Post:

Biden and Democratic leaders in Congress argue a third round of stimulus checks is necessary to ensure people who have lost their jobs or taken a pay cut still have enough money to buy food, pay rent and get the medical care they need during a pandemic. But the White House has signaled the president is willing to narrow who gets them, sending checks only to low- and moderate-income families this time around.

Individuals with incomes up to $50,000 would get the full $1,400 payment. Heads of household earning up to $75,000 would also qualify, and married couples with earnings up to $100,000 would get a $2,800 payment. (Past stimulus checks were based off of “adjusted gross income,” and that is likely to be the same again).

Additionally, parents of children would receive an additional $1,400 per child. That means a family of four would receive $5,600. Read the full report at the Washington Post.