Help is on the way: Budget Committee passes new relief bill

Last updated: May 22, 2024
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Elyssa Duncan
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Help is on the way: Budget Committee passes new relief bill
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President Biden’s $1.9 trillion stimulus package, the American Rescue Plan, has passed the Budget Committee and will be sent for a full House vote later this week. This new package includes direct aid to small businesses, another round of stimulus checks, an increase to the child tax credit, funding for state and local governments, and more. Here are two important things included in the Biden stimulus plan and one which was included, but then dropped from the plan as of 2/26/21.

A third stimulus check for $1,400

Another stimulus check totaling $1,400 per eligible individual is in the proposed relief package. However, in this third round of stimulus checks, there are new rules to restrict payments to lower-income earners as government officials are focused on limiting the number of partial stimulus checks given to higher-income earners.

The qualifying income for the full $1,400 check is up to $75,000 for individuals and $150,000 for married couples. Under this new bill, families are eligible to receive up to $1,400 per dependent.

Eligibility will be expanded this round so that families with mixed citizenship are entitled to more money and the criteria for dependents has been loosened. For the first time, 17-year-olds and adult dependents will also be eligible for a payment as part of this plan. College students, older adults, and children of all ages with certain disabilities will also be included.

The IRS has a deadline of December 31, 2021, to distribute this round of payments.

More about the third stimulus payment 

Increased federal unemployment benefits

In the third stimulus package, there are plans to increase the additional unemployment payments from $300 to $400 and extend the duration of distribution. The House version of the third plan will send additional unemployment payments until August 29, 2021, with triggers that extend these benefits after September for those who are still out of work.

Currently, under the second stimulus package, the enhanced unemployment benefits of $300 per week are set to expire on March 14, 2021. If approved by this date, the American Rescue Plan will renew the federal unemployment aid without any lapse in funding.

Dropped: A raise in the federal minimum wage

A boost for the federal minimum wage was included in the House version of the relief bill. The proposed legislation would have gradually raised the minimum wage to $15 per hour for all workers by 2024. The current federal minimum wage is $7.25 per hour.

UPDATE: As of 2/26/2021 a raise to the federal minimum wage will no longer be included in this bill. Although this portion of the bill was blocked in the Senate, lawmakers are vowing to bring the issue back at a later time.

Learn more 

Next steps for the third COVID relief bill

Legislators are racing to meet a mid-March deadline for this coronavirus relief package before existing benefits, such as additional unemployment benefits, expire. House leaders plan to bring the bill to a vote by Sunday. It will then need to be sent to the Senate for approval.

If it can keep the aggressive timeline, Congress may deliver stimulus payments as soon as next month.


**What are your thoughts about this new relief bill? Comment below. **

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Jennifer Allen
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Now we have a virus called the Delta virus another strange

3y
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Alishia Smith
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ALISHIA SMITH

havent received the first or second

3y
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lynn koerber
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I received three stimulus checks I received a letter in the mail saying I would receive another 1400 for the American rescue plan when will I receive that

3y
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Donald Connelly
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Cities Should Handing Out Supplement Checks During This Pandemic Supported By The Government It Takes To Long For The Government To Do Supplement Checks For Who Really Need It.

3y
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Elizabeth Gilbert
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Computer Operator at Cnrma Pdit

The money was great. Wish it was more but only hoping.

3y
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kathy bell
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Time to get back to work and actually get a paycheck. Where I live, there are all kinds of job openings, but as long as the federal government hands out free cash, no one will go back. Where are they getting all of this? Isn't the money tree picked over by now? You do know we will have to pay it all back, in taxes, income tax refunds, higher prices, right? This is a way for the Democrats to keep you in their keep. As long as they give out free cash, who is going to go against them.

3y
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Lynda Ayers
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All this talk about more help for families is great but what about the seniors, the widow with social security for an income we are struggling too.

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Michele Alasaad
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Ny state taxes relief should be for all same as federal for this tax year

3y
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Ray Stimson
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Printing money is so much fun! Free stuff! We were energy exporters with low gas prices and now poor or rich you are paying more. I wish I was an illegal alien so everything is free! By the way how is this going to be paid for and who pays for it. Just print more money! Throw us a bone with no meat on it. Keep us begging for more we will be much easier to control. Throw in a virus, scare everyone, mother government will keep you safe just don’t get out of line!

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bernie lyons
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still have not recived our first!

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