President Joe Biden has long insisted that the American people need another round of stimulus checks as part of a third COVID-19 relief package.
Recent updates, however, reveal that he is now on board with a proposal that would significantly reduce the number of individuals who would qualify for another payment.
As reported by Fox Business, a report from the Institute on Taxation and Economic Policy provided details of the change that would lower the threshold at which a proposed $1,400 check would be phased out.
The House of Representatives passed a version of the massive bill last week that included another round of checks for Americans earning up to $75,000 per year.
Those making more than that amount — or more than $150,000 for couples — would receive an increasingly smaller amount.
Individuals earning $100,000 or couples bringing home $200,000 annually would be ineligible for a check under the House-approved proposal.
Now it is the Senate’s turn to consider the bill, and the situation seems to be getting trickier for Democrats intent on providing checks to as many Americans as possible. Even though they are using a budget reconciliation process that would allow the bill to pass with just a majority vote in the evenly divided chamber, Democrats still need all 50 senators in the party to vote in favor — and at least a few are hesitant to confirm that they are on board with the House version.
As a result, a new proposal has been floating around that would lower the cutoff point to individuals earning $80,000 per year or couples earning $160,000.
Reports from Fox Business and elsewhere indicate that Biden is in agreement with the compromise, which could have major repercussions despite the seemingly minor change.
As the Institute on Taxation and Economic Policy explained, nearly 12 million adults and about 4.6 million children would be excluded under the new proposal.
It is currently unclear whether this version of the bill will be the one on which senators will ultimately vote, but the issue is set to be introduced in the upper chamber within the next week or so — before the March 14 expiration of unemployment aid contained in previous legislation. If the Senate passes a different version than the House bill, the lower chamber will have to vote again.
Despite pushback from within his own party, White House Press Secretary Jen Psaki said this week that Biden is “pleased with the progress” surrounding the stimulus compromise and “is comfortable with where the negotiations stand,” as USA Today reported.