The package delivers a new round of financial assistance to Americans grappling with the impact of the pandemic, including $1,400 direct payments, an extension of supplemental unemployment benefits and an increase to the child tax credit.
Individuals earning up to $75,000 and couples earning up to $150,000 would receive the full direct payments of $1,400 per person. But those payments would phase out for individuals and couples who make more than $80,000 and $160,000, respectively.
The income cutoff was lowered after moderate Democrats demanded that the latest round of checks target lower-income families.
Federal unemployment benefits would be extended through Sept. 6 at the current rate of $300 per week and the first $10,200 of those benefits would be tax-free for households that earn $150,000 or less.
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