Washington Post says deal was reached!

[mvd]

https://www.washingtonpost.com/us-policy/2021/03/05/biden-stimulus-senate-checks-vote/?itid=hp-top-table-main

Looks fairly similar to the original plan. Those making $150,000 or less and unemployed will get $10,200 in taxes not applied to them.

President Biden’s experience paid off here IMO.

[drray23]

1. thats assuming Manchin does not throw another wrench in it.

He had agreed to an earlier version and then decided this afternoon he would go along with one of the gop amendments to reduce UE benefits further. Hopefully this later deal holds...

[JohnSJ]

8. He won't. The UE is 300 instead of 400, but it extends through September instead of August

[drray23]

9. yes i know. i saw the details however im still worried

he could still turn around if the republicans throw in another amendment he likes. They figured that Manchin can be used to drive a wedge in the democratic party. Its working.

[JohnSJ]

10. I understand your concern, but I trust our leadership to get though this with not to bad of a

result

The media sure loves the drama though, so I wonder if this UE agreement is a disappointment to them

[Freddie]

2. So...

When are we getting the $1400?

[W_HAMILTON]

3. If everything goes as planned, probably sometime late this month.

The bill will be passed and signed into law before then, but I imagine people won't start seeing checks deposited until a bit after all that, though, so, I'm guessing late this month.

[mvd]

4. If there are no more Manchin spectacles, likely they will go out late this month

Really hopeful.

[WhiteTara]

11. Have they voted for the final passage?

Biden would sign ASAP, maybe middle to end of March.

[Demsrule86]

12. It must be done by the 15th or folks lose unemployment that can't happen and I don't think

it will.

[dsc]

5. wow so to top all of this off, the man who has arguably more power than pretty much anyone else

in this doesn't even know how this works. No, they aren't getting a $10,200 break on their taxes, they are having taxes not applied to $10,200 in income which isn't close to the same thing. Simply amazing, talk about failing up in life.

[mvd]

6. Good point

Changed the wording in my OP.

[dsc]

7. I looked at the article and the quote of him is that they get a $10,200 break

so it isn't your post that is the problem.

[Cicada]

14. I think up to 10,200 is not subject to income tax

The amount of the tax savings depends on your tax bracket and how much you will benefit from lower gross income because of other tax benefits which phase out as gross income rises. The typical tax savings would be about $1200. But for some it will be more.

[Cicada]

13. Not taxing unemployment income is better than an extra $100 per week

For many people tax on unemployment is more than just the regular income tax. Driving adjusted gross income up often forces repayment of some of the Obamacare subsidy, and reduces the amount of the earned income tax credit. So this is a pretty good trade off.

[uponit7771]

15. +1,