Personal finance

Here's Who Is Likely to Get a Third Stimulus Check Under the Latest Relief Package

Economic stimulus check.
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Democrats unveiled final details of the third Covid-19 relief package Monday night, and there's good news for Americans who are considered dependents, including college students and disabled adults. Under the latest provisions, they'll be eligible to receive the $1,400 stimulus payments.

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The latest relief package, which is expected to pass Congress in the coming weeks through a budget reconciliation process, includes $1,400 payments for both children and non-child dependents, such as college students, disabled adults and even older Americans who are claimed as a dependent for tax purposes.

Previous rounds of stimulus checks were limited to child dependents, which meant roughly 13.5 million adult dependents missed out on the payments, according to an analysis of the Census Bureau's Current Population Survey by the People's Policy Project think tank. 

According to details released by the House Ways and Means Committee, the new relief package is set to pay out up to $1,400 to individual Americans making less than $75,000 and couples earning less than $150,000 in adjusted gross income (AGI).

The payments will start to phase out for those with higher AGI, as it did with the previous stimulus payment cycles. Individuals making more than $100,000 ($200,000 for those married, filing jointly) will not be eligible. However, the AGI used to calculate stimulus payments can be from 2019 or 2020 tax year, according to the latest proposal.

The details released on Monday confirm that Democrats are not planning to limit the number of Americans eligible for stimulus payments in the third relief package, a shift from earlier discussions this month. Some Democrats had proposed limiting this round of stimulus payments to those earning less than $50,000 and couples making less than $100,000.

Meanwhile Republicans outlined a plan to send up to $1,000 checks to individuals earning up to $40,000 per year ($80,000 for couples).

Progressive lawmakers, including Senator Bernie Sanders (I-Vt.) and Rep. Alexandria Ocasio-Cortez (D-N.Y.) have been vocal in their opposition to limiting eligibility for the latest round of stimulus checks. 

Ways and Means Chairman Richard Neal (D-Mass.) said his committee will vote this week on the stimulus payment plans, along with several other legislative proposals that are part of the relief package. Speaker of the House Nancy Pelosi said on Friday that she expects Congress will "finish our work [on the relief package] before the end of February."

Check out: House Democrats’ relief plan does not change income limits for $1,400 stimulus checks

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