Senate Democrats have struck a deal to lower the income cut off for receiving a stimulus payment as part of the coronavirus bill, a Democratic aide confirmed to The Hill.
The decision, which speeds up the phasing out of checks, reflects a demand from moderates to curb the ability of high-income earners to receive the stimulus payments.
Under the agreement, individuals who make up to $75,000 per year or couples who make up to $150,000 per year will still receive a $1,400 check.
But the Senate bill, which is expected to be unveiled as soon as Wednesday, significantly reduces the income window for receiving a partial check.
The checks would phase out completely at an income threshold of $80,000 for individuals under the Senate deal, compared to $100,000 under the House bill.
For couples, the checks would phase out completely at an income threshold of $160,000 under the Senate deal, compared to $200,000 for the House bill.
Read more at The Hill.
{Matzav.com}