Zero Hedge – by Tyler Durden
On Monday afternoon, House Dems released a draft of their fiscal package. Amid the top highlights is that Biden is going for the full $1.9T and is not succumbing to pressure to reduce the size of the bill to accommodate the GOP nor centrist lawmakers who may be at-risk in 2022 elections. Further, the timing appears to be Feb 22 to get a bill completed and sent for a floor vote with the goal of putting the bill into law by early/mid-March.
Following criticism that Joe Biden’s $1.9 trillion stimulus package would benefit the rich, House Democrats agreed that individuals earning more than $100,000 and couples with income above $200,000 will not be eligible for direct payments. Draft legislation released Monday by the House Ways and Means Committee (full summary below) called for $1,400 payments for single people earning $75,000 or married couples earning $150,000. The checks will now completely phase out for individuals making $100,000 or joint taxpayers making $200,000. Continue reading “Dems To Cut Off Stimulus Checks At $200K Household Income: Here’s What Else Is In The Fiscal Package”