HOUSE Democrats on Monday proposed additional $1,400 stimulus checks and boosted unemployment benefits as Congress tackles the $1.9trillion Covid-19 relief package.
The proposal from the House Ways and Means Committee provides a $1,400 refundable tax credit for each family member that would be issued in advance payments as was done with the CARES Act, according to the official document.
House Democrats proposed additional $1,400 stimulus checksCredit: Getty Images – Getty
For a single taxpayer, the credit would be $1,400, and $2,800 for joint tax filers, in addition to $1,400 for each dependent.
The credit would begin to phase out between $75,000 and $100,000 of adjusted gross income, or between $112,500 and $150,000 for head of household tax filers and between $150,000 and $200,000 for joint filers.
That means the credit would be zero for taxpayers at the $100,000, $150,000 and $200,000 adjusted gross income levels, based on their filing status.
The plan also includes a child tax credit that would give millions of American families at least $3,000 for each child.
The plan from the House Ways and Means Committee comes as Congress members tackle President Joe Biden’s Covid relief packageCredit: AFP or licensors
The legislation offers $3,000 for each child age six through 17 and $3,600 for each child under the age of six, for a single year.
The benefit would be provided for single parents making up to $75,000 annually, or for couples earning up to $150,000, and phase out after those thresholds are exceeded.
Democratic Rep. Richard Neal, the chairman of the Ways and Means Committee, introduced the enhanced Child Tax Credit bill.
Congress members are debating a $1.9trillion coronavirus relief packageCredit: Reuters
“The pandemic is driving families deeper and deeper into poverty, and it’s devastating,” Neal said in a statement to CNN.
“We are making the Child Tax Credit more generous, more accessible, and by paying it out monthly, this money is going to be the difference in a roof over someone’s head or food on their table.”
The child tax credits would be paid out monthly, which proponents say would help families more than a lump sum once a year.
Democrats proposed $1,400 stimulus checks plus increased unemployment benefits and tax breaks in the $1.9trillion packageCredit: Getty Images – Getty
In addition, the plan would also expand tax credits for low-income Americans and those who buy health insurance through the Affordable Care Act, and provide health care subsidies for the unemployed.
The committee plans to vote on the proposal by the end of the week.
Democrats hope the House will approve the entire bill this month and send it to Biden to sign before mid-March, which is when emergency unemployment benefits are set to expire.
Biden’s massive relief package aims to combat the coronavirus pandemic and help the economy.
Since the start of the pandemic, more than 460,000 Americans have died and 10million people have lost their jobs.
More to follow…
For the latest news on this story keep checking back at Sun Online.
The Sun is your go to destination for the best celebrity news, football news, real-life stories, jaw-dropping pictures and must-see video.