Stimulus payments: An estimated 29 million people would lose out under GOP proposal
The Republican counterproposal on coronavirus relief unveiled Monday would potentially leave out 29 million middle- and upper-income earners who would qualify for stimulus payments under President Joe Biden's plan.
The GOP plan would cut off cash for individuals earning more than $50,000 a year and couples earning more than $100,000, according to a fact sheet provided by the office of Maine Republican Sen. Susan Collins, who rolled out the proposal Sunday with nine other Republicans.
About 78% of families would qualify for a relief payment under the Republican proposal, while 95% would be eligible under Biden's proposal, according to analysts at the The Penn Wharton Budget Model, who warned that the figures are preliminary since no formal legislative text is available yet.
Biden has asked Congress to send an additional $1,400 to Americans who are already getting $600 under the package approved by Congress in December, bringing the total to $2,000. People earning less than $75,000 and couples earning less than $150,000 would receive the full amount under Biden's plan and payments would gradually phase out.
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