AMERICANS could get their $1,400 stimulus check in weeks as President Biden urged Congress to "act quickly" and pass the coronavirus relief bill.
President Biden's new Covid budget plan was passed last week in the Senate in a "giant first step" to giving Americans more aid.
This morning, President Biden took to Twitter to tell U.S citizens that "we don't have a second to waste when it comes to delivering the American people the relief they desperately need."
He added: "I'm calling on Congress to act quickly and pass the American Rescue Plan."
House Speaker Nancy Pelosi said the bill would "absolutely" beat the previous forecast date of March 14.
Speaking to reporters outside the White House on Friday, she said: "Without any question. Before then."
Meanwhile, a new bill is being proposed by Democrats that could see struggling families get up to $3,600 per child in a stimulus check.
The legislation, which will be proposed today, is spearheaded by Richard Neal, the chairman of the House's Ways and Means Committee, which is seeking to bring millions of kids out of poverty.
"The pandemic is driving families deeper and deeper into poverty, and it's devastating," Neal said in a statement provided 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."
If the 22-page bill passes, the IRS would begin sending monthly checks of at least $250 to millions of families, the Washington Post reported.
The legislation would provide $3,600 per child under the age of six and $3,000 per child age six to 17 for one year.
The benefit would only available to single parents earning up to $75,000 annually and for couples earning up to $150,000.
According to CNN, families will receive the Child Tax Credit payments would begin in July.
This is a stark contrast to Treasury Secretary Janet Yellen who suggested that the stimulus checks be capped to those who make under $60,000, not $75,000.
Yellen said on Sunday that American workers who earn up to $60,000 per year should receive stimulus checks as part of the White House’s proposed $1.9trillion coronavirus relief package.
Speaking Sunday on CNN and CBS, the Treasury secretary said: “The exact details of how it should be targeted are to be determined, but struggling middle class families need help.”
Yellen went on to apply the argument to elementary school teachers and police officers making $60,000 income a year, saying, “It certainly seems appropriate that they can use that help to address the extra burdens from the pandemic.”
The White House has said it is open to negotiation on who should be eligible to receive the proposed $1,400 checks.
Yesterday Rep. Alexandria Ocasio-Cortez called for Americans to receive $2,000 stimulus checks as opposed to $1,400-per-person proposal.
Senator Bernie Sanders, the new chairman of teh Senate Budget Committee, did not push back against Biden's $1,400 check proposal but did insist that Americans making $75,000 and under remain eligible for assistance.
"We said we're going to get you $2,000, which is $600 plus $1,400, and what we’re going to do is say that everybody, a single person, individual, $75,000 or lower, and a couple of $150,000 or lower will be eligible for that $2,000 – $600 plus $1,400," Sanders said during an appearance on "State of the Union" on Sunday.
"To say to a worker in Vermont or California or anyplace else that if you're making $52,000 a year, you are too rich to get this help, the full benefit, I think that that's absurd, and it's also, from a political point of view, a little bit absurd that you would have, under Trump, these folks getting the benefit, but under Biden, who is fighting hard for the working class of this country, they would not get that full benefit," Sanders continued.
President Biden is reportedly open to compromising the structure of the proposed checks in his $1.9 trillion coronavirus relief package.
He told House Democrats last Wednesday that he would be open to modifying the gross income thresholds for an additional round of payments but is holding to the $1,4000 check amounts, reports Politico.
Source: Read Full Article