Sen. Marco Rubio, R-Fla. listens at left as Republican presidential candidate, former Massachusetts Gov. Mitt Romney speaks during a news conference prior to a town hall-style meeting in Aston, Pa., Monday, April 23, 2012.<\/p>\n
Jae C. Hong | AP<\/p>\n
A second set of stimulus checks could be on the way, but the ink on the deal hasn't dried yet.<\/p>\n
On Thursday, a group of Republican senators introduced a bill that would lower the sum the government sends out to $1,000. Previous Republican and Democrat proposals have called for $1,200 checks to adults and $500 to dependents.<\/p>\n
Under the terms of the new bill, the $1,000 checks would be sent to all Americans, regardless of their age or dependent status.<\/p>\n
The bill is called the Coronavirus Assistance for American Families Act. It was proposed by Sens. Bill Cassidy, R-La.; Steve Daines, R-Mont.; Mitt Romney, R-Utah; and Marco Rubio, R-Fla.<\/p>\n
In order to qualify, both adults and dependents would need valid Social Security numbers. Under the bill, a qualifying family of four could potentially receive $4,000 $600 more than they received in the CARES Act.<\/p>\n
Unlike the CARES Act, this proposal would include all adult dependents, including college students and individuals with disabilities.<\/p>\n
\"Much of the burden of the pandemic has fallen on parents and children,\" Cassidy said in a statement. \"This legislation prioritizes their needs by providing resources for school supplies, childcare, and other unexpected expenses.\"<\/p>\n
Single and married taxpayers with no children would receive less compared to the first stimulus checks. Single individuals would get up to $200 less, while married couples would see up to a $400 reduction.<\/p>\n
Democrats have also advocated for raising dependent pay with the second round of stimulus checks. The HEROES Act, passed by the House in May, called for $1,200 per dependent for up to three per family. Under that plan, families could receive as much as $6,000 total.<\/p>\n
Under this new Republican proposal, the income qualifications would be the same as the first checks. Individuals with income of up to $75,000, heads of households making up to $112,500 and married couples earning up to $150,000 would be eligible for full stipends. Checks would be reduced by 5% for every dollar above those thresholds.<\/p>\n
Consequently, the thresholds at which the checks would phase out would be slightly lower than the first round, according to the Tax Foundation. Individuals with income above $95,000 would not receive payments, rather than the $99,000 cut off in the CARES Act. Those who are married and filing jointly would not receive checks for income over $190,000, down from $198,000 in the first round.<\/p>\n
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Read more here:<\/p>\n
Republican senators propose $1,000 stimulus checks - CNBC<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Sen. Marco Rubio, R-Fla. listens at left as Republican presidential candidate, former Massachusetts Gov. Continue reading