New York Post: Nearly 12 million Americans could lose COVID stimulus checks under Biden’s new cap

About 200 million adults would receive stimulus checks under the new Senate plan, roughly 11.8 million fewer than under the $1.9 trillion COVID-19 relief bill the House of Representatives passed last week, which had a $100,000 income cap, according to estimates from the Institute on Taxation and Economic Policy.

The changes would also result in about 4.6 million fewer children benefiting from the relief payments, the think tank found.

However, the new proposal “would make no difference” for the vast majority of Americans because it tapers eligibility toward the top of the income scale, according to Steve Wamhoff, the group’s director of federal tax policy.

“Among the bottom 60 percent of Americans, those who most need help, both versions of the proposal would benefit 100 percent of adults and children,” Wamhoff said in a Wednesday blog post. Read more

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