Tuesday, October 4, 2022

Did They Pass The Stimulus

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Who Is Calling For More Stimulus Checks

House passes bill for $2,000 stimulus checks, putting GOP senators in a tough position

There are currently 80 congressional Democrats that formally support additional financial help to struggling US households. Along with the 21 Senators, members of the House have been calling for recurring stimulus checks to keep households afloat. The most recent call came from the powerful the House Ways and Means Committee, with seven of the 42 members urging the White House to support such a measure.

“The pandemic has served as a stark reminder that families and workers need certainty in a crisis,” the committees letter read. “They deserve to know they can put food on the table and keep a roof over their heads.”

Did They Pass The Stimulus Bill America Waits For An Answer

Did they pass the stimulus bill is the question that is spreading like wildfire. People have been left searching for answers for a long time. Stimulus Check for the fourth round seems very much unlikely.

The government has no plans of announcing further rounds of payments. Citizens of America have been routing for added payments for a long time. They stated that many households still need money to survive.

The money provided as Stimulus Checks were not sufficient. The received money was exhausted within a span of three months. Considering the current situation of America, these concerns do seem legit.

As much as the fourth check is being pushed, the possibility of one is unlikely. The federal government is currently focusing on the stimulus package of the federal budget. The government has stated that the economy is showing signs of a turnaround.

They are putting more stress on speeding up the vaccination process. All this information did not answer peoples questions about did they pass the stimulus bill.

However, other payments might lighten up the mood. Let us learn more about them and see whether it answers the question- did they pass the stimulus bill?

Bidens Stimulus Bill Takes Us In New Direction

For decades the expressiontrickle-down economics has been a mainstay when talking about US policy on the economy since Regans tax policy of the 1980s. President Bidens $1.9 trillion covid-19 relief bill turns that philosophy upside down.

During the pandemic the US experienced a K-shaped recovery with those at the top excelling, able to work from home and in many cases financial reserves to weather the storm. At the bottom was a different story, with the bulk of unemployment experienced by lower income earners. The latter is specifically who the bill targets to help prop up the recovery.

Is it the end of Reganism? The Guardian gives their analysis.

Read Also: Are We Getting A Third Stimulus Check

Biden Expects Stimulus Bill To Pass

Voting in the House has ended but the tally still continues. Even so, the White House is already planning for when President Biden will sign the bill. According to Jake Sherman the signing ceremony will take place on Friday. Democrats will have met their goal of enacting the bill before the 14 March deadline.

Whos Shut Out In The Final Bill

Did Stimulus Check Passed Today

People who file their tax return using the single filing status with an adjusted gross income between $80,000 and $100,000 head-of-household filers with an AGI between $120,000 and $150,000 and married couples filing a joint return with an AGI between $160,000 and $200,000 wont get a third stimulus check. These people would have gotten a reduced payment under the original bill, but they wont get any money under the final bill sent to the president.

Under both versions of the bill, singles with an AGI above $100,000, head-of-household filers with an AGI exceeding $150,000, and joint filers with an AGI over $200,000 wouldnt receive any third-round stimulus payments. For more on who will or wont get a third stimulus check under the final bill, see Who Wont Get a Third Stimulus Check Under the New Senate Plan?

To calculate the amount of YOUR third stimulus check , use our handy Third Stimulus Check Calculator. All you have to do is answer three easy questions to get an estimated payment amount.

Recommended Reading: Wheres My 2021 Stimulus Check

Democratic House Majority Should See Bill Safely Through

When the stimulus bill passes back to the House on Wednesday it should be pushed through with little opposition given the majority enjoyed by the Democrats in the lower chamber.

Things are a little tighter in the Senate, as the vote last Saturday showed, but if party lines are adhered to Joe Biden should have no problem in advancing his legaslitive agenda during his term.

That said, in the preliminary vote on the $1.9 trillion relief bill two Democrats, Kurt Schrader of Oregon and Jared Golden of Maine, broke ranks and voted against.

Even so, the Democratic majority in the House, unlike the Senate, is sufficient that a couple of dissenters in the final vote Wednesday will not derail the bill. In the first House vote, it passed 219-212, with all House Republicans voting against.

European Markets React To Stimulus Bill Approval

European stock markets are set to rally Thursday in reaction to the final approval of President Joe Bidens $1.9 trillion American Rescue Plan.

Londons FTSE is seen opening 19 points higher at 6,738, Germanys DAX 40 points higher at 14,574, Frances CAC 40 up 16 points at 6,004 and Italys FTSE MIB 94 points higher at 24,009, according to IG .

Asia-Pacific markets are also trading higher on Thursday, while Stateside the Dow jumped a record 464 points on Wednesday.

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Stimulus Checks Will Be Retroactive For 2021 Newborns

The third round of stimulus checks are expecting to begin distribution in the coming weeks after President Joe Biden signs the American Rescue Plan into law on Friday. This will see $1,400 checks sent to all eligible Americans, and will even provide payments for some who are not even born yet.

Washington Post personal finance correspondent Jeff Stein reports that children born in 2021 are still entitled to a stimulus check payment, but it would have to be claimed on next year’s tax returns. Currently, the IRS are processing missed payments for both of the previous two rounds of stimulus checks through the form of a Recovery Rebate Credit, and it appears that something similar will be available in the future.

When Will Americans See Relief

House Democrats Pass $2.2 Trillion Stimulus Plan

Heartbreakingly, not in time for Christmas. If the bill passes as expected today, direct deposits could be in bank accounts by the end of December or first two weeks of January. Paper checks will take another month or two beyond that. However, for families starving through the winter, this aid may be coming too late. An increase in grocery theft, homelessness, and suicides all point to a country grappling with a hopeless situation. Congresss failure to act until now nearly on the Eve of Christmas is a grim reminder of how removed politicians are from the plight of the average American.

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% Of Voters Support Bidens $19 Trillion American Rescue Plan

According to a new poll, 75% of voters support President Bidens $1.9 trillion American Rescue Plan, including 90% of Democrats, 71% of Independents and 59% of Republicans.

Vice President Kamala Harris: “More than 2 million women have left the workforce during this pandemic. Weve got to get women back to work. The American Rescue Plan will do that.”

Bidens 50th Day In Office

President Biden marks his 50th day in office on Wednesday as his administration eyes a major milestone: final congressional passage of his massive $1.9 trillion coronavirus aid package.

The bill includes direct payments to millions of Americans and money to help the White House deliver on a number of Bidens biggest campaign promises, like reopening schools and getting more Americans vaccinated.

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Changes To Tax Credits

the Earned Income Tax Credit and the Child Tax Credit .

The EITC is a tax credit that provides financial assistance to workers earning around $57,000 or less. The credit is partially refundable , which means it can reduce your taxes or increase your refund.

You may qualify for the EITC with or without children but currently, the credit is fairly small for people without kids. For 2021, you can qualify for a maximum credit of $6,728 if you have up to three children. However, for childless taxpayers, the total amount you can claim is $543.

Biden proposes to temporarily increase the EITC for childless workers for one year, allowing those who qualify to claim a credit of up to $1,500. The EITC will remain unchanged for those with kids.

The bill also contains big changes to the child tax credit although theyre temporary and will only last for one year. Under the current law, a person might qualify to claim a credit of up to $2,000 per child under 17. Bidens plan greatly boosts the credit, increasing the CTC up to $3,600 for children ages under the age of 6. Children ages six to 17 might qualify for a credit of up to $3,000. Another provision in the package would allow the credit to be fully refundable to those who qualify.

Special Inspector General For Pandemic Recovery

Next Stimulus Pass?

The legislation also requires oversight by a separate Special Inspector General for Pandemic Recovery who will monitor loans and investments from a $500 billion corporate bailout fund established by the legislation. A provision in the legislation empowers the special inspector general to audit the use of the fund requires the Treasury Department and other executive-branch entities to provide information to the special inspector general and directs the special inspector general to report to Congress without delay if an agency unreasonably withholds requested information. The Pandemic Response Accountability Committee will coordinate the work of the SIGPR.

Amidst reports that Trump would nominate White House lawyer Brian Miller for this job, Montana Senator Jon Tester and Utah Senator Mitt Romney drafted a letter to the president requesting a different, independent Special Inspector General. Miller was confirmed by the Senate on June 2.

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Biden Doesnt Want To Waste Time Getting $1400 Stimulus Checks To Americans

President Biden will sign the American Rescue Plan into law on Friday and soon after $1,400 direct stimulus payments will begin to be sent out. The White House is not committing to a specific date as it will be up to the Treasury Department to decide the exact date.

However the President and Democrats have assured that the direct payments should go out before the end of the March. White House Press Secretary Jen Psaki said that Biden did not want any time wasted on having the checks branded with his name. The President wants the stimulus money to get to families that need it as soon as possible.

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Republicans: Bill Too Costly

Republicans argue that the $1.9tn stimulus bill is too costly and comes as the worst phase of the largest public health crisis in a century may have passed.

Biden may not sign the bill until later in the week, while it goes through final checks, according to people familiar with the White House’s plans.

The House is due to meet at 9 a.m. for two hours of debate before voting on the bill. The chamber last month passed an earlier version of the bill, but needs to meet again to approve changes made in the Senate over the weekend.

Congressional leaders do not expect a replay of the prolonged fights around earlier votes, which stretched past midnight in the House Rules Committee and went all night in the Senate in a session that ended on Saturday afternoon.

It is possible, however, that Republicans could delay proceedings on Wednesday. They could ask for a motion to send the bill back to a committee or a member could move to adjourn the House – a maneuver that right-wing Representative Marjorie

Taylor Greene has attempted three times since taking office in January.

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Jimmy Carter Is Disheartened Saddened And Angry By The Gop Push To Curb Voting Rights In Georgia

Former President Jimmy Carter a one-term Georgia governor who first ran for office in the 1960s said efforts by Republicans in the state to restrict ballot access represented an attempt to turn back the clock on hard-won progress in empowering disenfranchised voters.

I am disheartened, saddened and angry, Mr. Carter wrote in a statement released by his charitable foundation on Tuesday, a day after the Republican-controlled State Senate approved a bill repealing no-excuse absentee voting.

American democracy means every eligible person has the right to vote in an election that is fair, open and secure, Mr. Carter, 96, wrote.

We must not lose the progress we have made. We must not promote confidence among one segment of the electorate by restricting the participation of others. Our goal always should be to increase, not decrease, voter participation.

Mr. Carter said he was particularly upset that Republicans in the state repeatedly invoked a 2005 report he prepared with former Secretary of State James Baker, which recommended the use of identification checks to avert fraud.

Mr. Carter now says that new technologies have made the use of absentee ballots much safer.

In the 16 years since the reports release, vote-by-mail practices have progressed significantly, he added. In light of these advances, I believe that voting by mail can be conducted in a manner that ensures election integrity.

But the Georgia bills passage is by no means assured.

The Bill Passed For Second Stimulus Check And Hazard Pay For Essential Workers

Stimulus update: GOP blocks House Democrats attempts to pass $2000 stimulus checks

    WASHINGTON, DC – MAY 12: WASHINGTON, DC – MAY 12: House Speaker Nancy Pelosi, D-CA, arrives at a … news conference to deliver a statement on the Heroes Act aid package introduced by House democrats, May 12, 2020 on Capitol Hill, in Washington D.C. The legislation provides nearly $1 trillion for states and cities, and “hazard pay” for essential workers affected by the Coronavirus pandemic.

    The House successfully passed a fourth stimulus relief package yesterday. The $3 trillion Heroes Act contains a second round of $1,200 stimulus checks, $200 billion in hazard pay for essential workers, six additional months of COVID-19 unemployment, funding for state, local and tribal governments and food and housing assistance among several other things. Overall, three different stimulus relief packages have so far gone on to become law and are currently being implemented throughout the nation. Though the Republican-led Senate is pushing against injecting more stimulus money into the economy, Fridays House vote was a huge step towards delivering a fourth stimulus package to America.

    Here are the questions we have been getting and how The Heroes Act that the House passed yesterday advances some answers.

    Recommended Reading: Haven ‘t Received Stimulus Check

    American Airlines To End Staff Furloughs After Stimulus Bill Passes The House

    A recent press release from American Airlines tells the 13,000 workers who received notices that they would be placed on furlough from 1 April: “you can tear them up!”. The new $1.9 trillion stimulus bill extends airline Payroll Support Program, giving the struggling industry enough support to ensure they can continue to keep staff on regular contracts.

    Although President Biden will sign the stimulus bill on Friday, American Airlines are announcing the move early and it seems to bode well for Biden’s American Rescue Plan. It is thought that stimulus bill will save 27,000 airline workers from furloughs that due to begin at the end of this month.

    Who Qualifies For The Third Stimulus Check

    Millions of Americans who were eligible for the $600 second stimulus checks could qualify for the third round of stimulus payments up to $1,400. However, many high-earning taxpayers who were eligible for previous stimulus checks are now excluded. The plan narrows income eligibility to exclude individuals earning over $80,000 and couples making over $160,000:

    • Singles phase out at AGIs between $75,000 and $80,000.
    • Heads of household phase out at AGIs between $112,500 and 120,000.
    • Couples phase out at AGIs between $150,000 and $160,000.

    Keep in mind that this is different from the sliding scale that was used to determine eligibility for previous stimulus payments. The IRS reduced second stimulus checks by 5% for the total amount made over the AGI limit. This means that payments went down by $5 for every $100 over the limit.

    The table below breaks down third stimulus payments based on narrower income ranges for singles and joint tax filers:

    $1,400 Stimulus Checks With Narrower Income Ranges
    Single AGI
    $174,000 and up$0

    If you want to get a specific breakdown, SmartAssets third stimulus check calculator will give you an estimate based on your filing status, AGI and dependents.

    Recommended Reading: How Do I See Where My Stimulus Check Is

    Ball Back In House’s Court

    After approval in the Senate, Joe Biden’s American Rescue Plan is set to be handed back to the House for a final vote before being signed into law by the president. Democrats had hoped to have the bill signed and delivered before 14 March, when federal unemployment benefits were due to expire and according to Washington observers it could get the green light in the lower chamber as early as Wednesday.

    The Senate passed the $1.9 trillion coronavirus relief package on Saturday after Democrats pulled together to push Biden’s flagship legislation through. The question now is how quickly can the president sign the bill into law?

    Read the full story:

    Did Congress Really Just Pass A Bill For Another Stimulus Check

    Stimulus Moves Forward: When Will It Pass?

    Yes, one side of Congress passed a bill that does include a second stimulus check, but Congress has two different chambersthe Senate and the Houseand the Senate has not yet agreed to pass another stimulus check.

    Heres the deal: The House passed a $3 trillion stimulus relief package Friday its called The Heroes Act. It does provide for a second stimulus check in addition to a whole lot of other things including $200 billion in hazard pay for essential workers, six more months of COVID-19 unemployment, housing and food assistance, money for the U.S. Postal Service, etc. You can check out whats included in The Heroes Act here.

    So yes, the bill passed in the House, and now its being presented to the Senate with Speaker Nancy Pelosi urging the Senate to begin negotiations so they can get something put forward that both chambers will agree to pass.

    Also Check: Have Not Received Second Stimulus Check

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