Third Stimulus Check: Pelosi Says COVID Relief Bill Could Be Passed This Month

KEY POINTS

House Democrats aim to pass their $1.9 trillion relief package this month
The new legislation would give Americans $1,400 checks
The proposal would also provide monthly aid for families under the Child Tax Credit

House Speaker Nancy Pelosi on Thursday said Democrats are expecting to pass President Joe Biden’s $1.9 trillion economic relief proposal before the government’s unemployment programs expire in March.

The next coronavirus aid package would include a third round of stimulus checks amounting to $1,400 and an extension to the weekly federal unemployment insurance.

“The House hopes to approve its $1.9 trillion plan by the end of February so we can send it to the president’s desk before unemployment benefits expire on March 14,” Pelosi told reporters.

Nine House committees on Wednesday began to write and advance their portions of the sweeping legislation. The panel is expected to finish writing their portion this week.

The Budget Committee will be responsible for combining the portions. Once combined, the Rules Committee will review the legislation and pass it to the House for a vote.

“This is the moment,” Ways and Means Committee Chairman Richard Neal, D-Mass., said.

If approved, Biden’s $1.9 trillion relief plan would provide eligible American individuals earning up to $75,000 a year with $1,400 checks. Married couples filing jointly making up to $150,000 a year would receive $2,800 payments.

The amounts of the stimulus checks would phase out to zero at a much faster rate. Unlike the previous two rounds of payments, single taxpayers earning $100,000 a year and couples making $200,000 would no longer receive the checks.

Families with children could also get more money under the new relief proposal. The new Child Tax Credit system would provide parents $300 per month per child under age 6. Parents of children between the ages of 6 and 17 would get $250 per month.

The new relief proposal would also make the Child Tax Credit fully refundable, with the goal of reducing child poverty by giving monthly aid.

“For families, monthly payments make a big difference because they have money when they need it,” Rep. Suzan DelBene, D-Wash., said. “I believe that we should fully expand the credit to help families over the long term. This is good short-term policy, but it’s also very good long-term policy.”