Start United States USA — Financial Second Stimulus Checks May Have Tighter Income Limitations. Here’s How Much You...

Second Stimulus Checks May Have Tighter Income Limitations. Here’s How Much You Might Get.

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Try this calculator to find out how much money you might receive in the next stimulus package.
Senate Majority Leader Mitch McConnell suggested that the second stimulus check would be capped at an annual income of $40,000. This represents more than 80 million Americans, or 45 percent of total filing units by expanded income groups, according to the Policy Simulation Library, a collection of open source models for policy analysis.
Researchers Jasmine Mah and Bogna Haponiuk recently created a stimulus check calculator with a $40,000 income limitation to help Americans determine whether they would qualify for a second stimulus check and how much money they might receive. The calculator is part of the Omni Calculator Project. It takes into account income group, tax status and number of dependents.
“The latest update of a $40,000 cap triggered a lot of curiosity about what it could mean to millions of Americans,” Mah said. “I wanted to paint a picture to let people see how it could impact their lives, if it is ultimately voted in by the Senate,” she added.
Jeff Stein, White House economics reporter for The Washington Post, shared that the Republican party is indeed moving towards the $40,000 income limit. “Multiple sources say McConnell didn’t just throw out $40,000 as a cut-off haphazardly—consensus within GOP is moving that direction, which would sharply limit eligibility,” he tweeted.

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