The House of Representatives Financial Aid Bill significantly expands support for Americans by including $ 1,400 per child or dependent.
That amount is higher than in previous laws, including the CARES Act, and is in addition to the $ 1,400 per person check .
“The credit is $ 1,400 for a single taxpayer ($ 2,800 for joint taxpayers), in addition to $ 1,400 per dependent,” says the draft plan prepared by the House Ways and Means Committee, chaired by Democrat Richard Neal (Massachusetts ).
The document indicates that for the stimulus check it will go to those who report an income of a maximum of $ 75,000 per year or $ 2,800 for a couple who report income of a maximum of $ 150.00.
Regarding the extra help, he clarifies that a dependent may or may not be a child, that is, the money could be sent to families that report parents or siblings or university students as dependents.
“For the purposes of this credit, a dependent includes both children and dependents who are not children,” the bill indicates . “A taxpayer is eligible for a credit (payment) with respect to any individual in the household for whom a Social Security number is associated with that person on the tax return.”
The economist Andrés Vinelli, vice president of Economic Policies of the CAP and author of the report “7 principles that should guide the negotiations of economic relief” , pointed out that the aid aimed at children or dependents of a family is fundamental, because “they are aimed” at those most in need , coupled with helping to move the economy.
“These payments make people consume more and that reactivates small businesses and then the entire economy … it generates what we call a multiplier effect,” he said.
The plan is integrated under the Congressional Budget Reconciliation, the final version of which will take several weeks, but the package would be approved no later than mid-March, since it is the deadline to start distributing the funds, once the aid ends. approved last December.
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