House Panel Clears $1,400 Stimulus Payments, Family Tax Credits

[Yo_Mama_Been_Loggin]

Source: Bloomberg

(Bloomberg) -- The House Ways and Means Committee advanced legislation that would infuse households with hundreds of billions of dollars of cash through direct payments and tax credits, a key plank of President Joe Biden’s Covid-19 relief package.

The panel on Thursday approved measures providing $593.5 billion in benefits, most of which is made up of $1,400 stimulus payments, along with advance tax credits for children that will be sent to households on a monthly basis. The measures passed on a 24-18 party-line vote.

A dozen House committees are working on different elements of Biden’s $1.9 trillion rescue proposal, and Thursday’s component is one of several under the jurisdiction of the Ways and Means panel. The committees plan to complete their work on Friday, with the full House voting on the overall package the week of Feb. 22.

“The $600 rebates that Congress delivered in December didn’t do enough,” Representative Suzan DelBene, a Washington Democrat, said during the Ways and Means Committee’s debate on Thursday, referring to stimulus checks approved in the last round of pandemic assistance. “This is critical relief to help families weather this crisis.”

Read more: https://www.msn.com/en-us/news/politics/house-panel-clears-1-400-stimulus-payments-family-tax-credits/ar-BB1dBGSO?li=BBnbfcQ&ocid=DELLDHP

[Ollie Garkie]

1. Um alrighty then

Will Joe Manchin still be trouble in the final vote? That's the big question?

[George II]

2. Let's take one step at at time. The House W&M Committee approved the $1400, no need to pre-emptively

....bash a Democratic Senator.

Thank you.

[Ollie Garkie]

3. Ok

It just makes me so nervous that we have a bare majority in the Senate while Joe Manchin is willing to screw over Americans needing relief and commit his own political suicide in the process.

[Hekate]

4. Okay, you're nervous. Now you're doubling down pre-emptively.

Take a break, get some rest, think positive thoughts.

[drray23]

7. there is no issue there.

Schumer will not put a vote on the floor if he knows it will not pass. Neither him or Pelosi are fools.
If they are going for a vote, they convinced Manchin. He will grumble and drag his feet but he wont torpedo the entire bill by himself, that would be suicidal given than the governor of his state has backed the full fledged stimulus plan and his constituents are poor. Its standard Manchin, he makes noise and grumble for appearing moderate back at home and yet vote with the caucus when its crucial.
If you look at his voting record he never torpedoed a vote all by himself. The times he has voted against the democrats he had cover. His vote would not have changed the outcome.
Murkowsky and Collins play the same game on the other side of the aisle.

[Ollie Garkie]

8. Good analysis

Does make feel somewhat better

[cstanleytech]

5. Did those with adult disabled and or elderly dependents get the middle finger again?

[BumRushDaShow]

6. Here is the latest - they are included (at least in a version reported)

(ETA - I believe this is what was just voted out of committee per the OP)

House Democrats’ relief plan does not change income limits for $1,400 stimulus checks

Published Mon, Feb 8 20216:54 PM EST Updated Mon, Feb 8 20217:01 PM EST
Alicia Adamczyk


House Democrats released more details about their coronavirus relief bill late Monday, which includes $1,400 stimulus payments for Americans at the same income levels as previous rounds. For the past week, there were reports that the Democrats might lower the income eligibility thresholds for stimulus checks from the previous two payments. But the text of the new bill includes $1,400 payments for individuals earning up to $75,000 per year and their dependents, and $2,800 for married couples earning up to $150,000. That means a family of four that meets all of the eligibility requirements would receive $5,600.

The income, which is based on a taxpayer’s adjusted gross income (AGI), can be from the 2019 or 2020 tax year. The stimulus payment phases out between $75,000 and $100,000 in AGI for individuals and between $150,00 and $200,000 for couples filing jointly. Heads of households will get the full amount if they earned up to $112,500, and it will phase out completely at $150,000. Adult dependents, previously excluded from receiving stimulus checks, are eligible for the third round under the House plan. This includes many college students, disabled adults and elderly Americans who are claimed on someone else’s tax returns.

Many households will get significantly more money under this framework than they did in the first two rounds. For example, a two-parent household with an 18-year-old dependent that met the income eligibility requirements would have received $2,400 in the first round. Now, they could get $4,200.

The House is reportedly working on other parts of the relief package, which is expected to closely mirror the $1.9 trillion plan President Joe Biden released in January. This version of the bill will be voted on by the House Ways and Means Committee this week.

https://www.cnbc.com/2021/02/08/house-democrats-plan-does-not-change-income-levels-for-1400-stimulus-checks.html

[moriah]

10. Since 2020 tax forms were already issued, this is really the only way to include adult dependents,

My mother really helped me out while she was working in 2018 and 2019, letting me get my car paid off completely and work on my credit cards while she pretty much took care of the rest of the the household bills -- plus helped me with my prescriptions if I couldn't find a grant to pay for them.

When we did the math from throwing mine and her bank statements in Intuit, she'd provided more than half my support those years, so she claimed me as a dependent.

However, she retired in late 2019. She cashed out her retirement and paid of all her credit cards, car, and other debt besides her house -- trying to get it where we could each contribute the same amount to keep the house running on both our Social Security checks for 2020. Unfortunately her health declined rapidly after retiring, and she passed on June 26.

So there's literally no way she could have provided more than half my support in 2020, so I filed a tax return showing I couldn't be claimed in 2020 and never received a stimulus check. I'll get my $1800.

If they're still working off 2018-2019 tax filings, as 2020 tax filings are just now opening, to ensure people who can't be claimed in 2020 or 2021 still get the relief, they have to open it to adult dependents. (Though I am curious about if they will attempt to put the $1400 in my deceased mother's account, or direct-deposit it to my bank that I use for SSDI.)

[Polybius]

9. So when will the full bill be voted on?

Sorry to rush, I'm just broke.