Coronavirus Stimulus Checks
Third stimulus check: how much extra money would dependents receive?
In a third round of stimulus checks, dependents could be in for a much larger pay out. The checks are being considered as part of a $1.9tn bill this week.
This weekend the House of Representatives voted to approve a $1.9 trillion coronavirus relief package, a step which means it will be sent to the Senate this week and could be passed within a matter of days. But the late night vote came before an hours-long marathon of debates and proposed amendments among the 431 House members.
The ambitious package includes $1.9 trillion of federal funding, which Biden hopes will provide for those who have been hit hardest by the pandemic and will help to kickstart the economy.
The flagship policy in the legislation is a third round of stimulus check payments at up to $1,400 each, which Biden hopes will provide the short-term boost that millions of struggling Americans desperately need.
The bill could pass by the end of the month, though its path in the Senate looks far from breezy. The debate is heating up on how targeted the checks are, extras included in the bill that don’t address the pandemic and the $15 minimum wage increase.
Under the Trump administration stimulus checks were issued twice last year, but quite a lot has changed this time around. When it comes to dependents, how do those proposed $1,400 checks compare to the two that came before?
How have dependent rules changed for third stimulus check?
New: Centrist Senate Dems again brought up tightening eligibility on stimulus checks in meeting today w/ Biden, 2 sources tell me & @seungminkim— Jeff Stein (@JStein_WaPo) March 2, 2021
House Dems rejected a proposal to much more sharply target the checks after a backlash last monthhttps://t.co/d3qDZdTHIy
Due to changes in proposed eligibility, more Americans could expect to qualify for a third stimulus check with the new $1.9 trillion relief bill - even if they weren't eligible for the first two stimulus checks.
The first big change in the parameters for dependents in the $1.9tn package would be that dependents are in to receive a significantly bigger check than before. The total amount up for grabs would be $1,400 in this third round. For context, that figure was $500 for the first check in March and $600 in December. That means families with qualifying dependents could see more than double the pay out for every dependent.
The other major change that could see families with dependents pocket more cash in this round of checks is that the rules are looking set to drastically shift on who qualifies as a dependent. In the first two stimulus bills, dependents had to be 16 years old or younger to qualify for a check. However in this third round adult dependents are included.
If this part of the bill gets approved, it could see around 13.5 million college students, older adults and children of all ages with certain disabilities getting checks when they didn’t see a penny before.
This time, families with mixed-status citizenship, young kids, older adults and dependents of all ages with disabilities are expected to meet the payment requirements, which could have a huge effect on tens of millions of families, per Cnet.
Third Stimulus Calculator
To calculate the approximate amount you may qualify for based on your individual circumstances, Forbes have devised a calculator based on the CASH act and Biden’s announcement as of 14 January.
For all of the latest updates on the stimulus checks and tax credits as they happen, follow our dedicated live feed.
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