The Internal Revenue Service will soon roll out a new COVID-19 stimulus check. Here are the differences between all of the checks.
The Senate recently passed President Biden’s $1.9 trillion COVID-19 relief package, and included in that package is a new third round of stimulus checks.
To give you an idea of how different the new stimulus check will be, a comparison has been made between the first and second checks. Using the chart from CNET, we can see that the maximum an individual can get from the third round of stimulus is $1,400, compared to the second check at $600 and the first at $1,200.
On top of the initial payment, Americans that have a dependent will receive $1,400 with the third stimulus check, compared to $600 with the second check and $500 with the first check. More differences are in the income thresholds.
For example, under the new COVID-19 relief package, individuals earning up to $80,000 annually are eligible for a stimulus check. The second check’s income threshold was $87,000, and the first was $100,000.
There are more differences between each of the previously passed legislation versus the new one that was passed over the weekend.