Third Stimulus Check: Americans Earning This Much Won't Receive $1,400 Payments

House Democrats on Monday released a brief outline of President Joe Biden’s $1.9 trillion economic relief package, including the eligibility requirements for a third round of stimulus checks amounting to $1,400.

As with previous payments, individuals earning up to $75,000 per year and married couples filing jointly making up to $150,000 qualify to receive the full amount of payments. But unlike previous rounds of checks, the total payment will phase out faster.

The new bill text for the checks state that single tax filers making above $100,000 per year and joint tax filers earning above $200,000 annually would no longer be eligible for the payments.

Eligible households with dependents would receive up to $1,400 per dependent. The bill is expected to include adult dependents, who were left out of the two previous rounds of checks.

Biden’s $1.9 trillion bill would increase the federal minimum wage to $15 an hour by 2025, and increase the amount of weekly unemployment insurance from $300 to $400. The new measure is also expected to extend weekly federal unemployment assistance until Aug. 29.

A portion of the coronavirus relief package would provide $130 billion in aid for schools to safely reopen, $39 billion for child care providers and $40 billion for institutions of higher education, the House Education and Labor Committee revealed.

"In the midst of a deadly pandemic, millions of American workers are risking their lives for poverty wages that haven’t been raised in over a decade. It’s long past time for Congress to right this wrong and enact a minimum wage that allows families to live with dignity," Congressional Progressive Caucus Chairwoman Pramila Jayapal, D-Wash., said in a statement ahead of the labor committee’s announcement.

The release of the bill text comes after Congressional Democrats rejected calls from moderate lawmakers, including Sen. Joe Manchin, D-W.V., to lower the income cap to $50,000 for individuals.

Rep. Alexandria Ocasio-Cortez, D-N.Y., took to Twitter to slam Manchin’s proposal and argued that millions of Americans suffering from the recession fueled by the coronavirus needed aid.

“Some who discount our proposals by saying 'reps from urban & suburban areas don’t get other places' don’t seem to apply that consideration themselves,” Ocasio-Cortez wrote on Twitter. “A $50k threshold is totally disconnected from the reality of tens of millions of people.”