Appears Fewer WNY Residents Will See a Stimulus Payment For The Third Relief Package
It looks like a third stimulus check will be sent out later this month. The U.S. Senate just approved a $1.9 trillion COVID-19 relief bill, with some changes.
The bill now goes back to the House of Representatives for final approval this week. Once the House agrees to the finalized bill, it will go to President Joe Biden's desk, where he is expected to sign it immediately. That's when stimulus checks would be sent.
But who would qualify for the third stimulus payment, which would be $1,400? As the bill stands now, it appears fewer Americans will receive a stimulus payment than the first two stimulus checks that totaled $1,200 and $600, respectively.
According to CNET, while the threshold of $75,000 for single taxpayers and $150,000 for married couples ($112,500 for head of household) will remain the same, the income phase out will be lower this time around. Single taxpayers making $80,000 a year or more will not receive a stimulus payment. The last stimulus payment was phased out at $87,000. The first was $100,000.
Head of households making $120,000 or more will not receive a stimulus, nor will couples filing their taxes jointly making $160,000 or more.
$300 weekly emergency unemployment checks would be renewed, with payments lasting until September 6th.
Since many taxpayers are currently filing their taxes, this comes at an interesting time of the year. WKBW reports that the IRS will use the most recent tax return on file.
The City of Buffalo will also get $350 million in direct aid.
While it's not a huge difference in threshold, some people will not receive any stimulus money that did receive checks in the last two stimulus packages, which includes some Americans here in Western New York.
You can read more about the new relief package here.