President Joe Biden speaks about the American Rescue Plan and the Paycheck Protection Program (PPP) for small businesses in response to coronavirus, in the Eisenhower Executive Office Building in Washington, DC, February 22, 2021.
Saul Loeb | AFP | Getty Images
President Joe Biden has backed a plan to cut the income caps for receiving a direct payment as part of the $1.9 trillion coronavirus relief package set to pass in the coming days, a Democratic source said Wednesday.
The phase out for the $1,400 stimulus checks begins at:
- $75,000 for single filers (same as the bill the House passed); now ending at $80,000
- $112,500 for heads of household (same as the House plan); now capped at $120,000
- $150,000 for joint filers (same as the House measure); now ending at $160,000
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