Stimulus Check has provided a sense of relief to all Americans. When the country imposed a strict shut down, people were clueless about their future. This was when the federal government came up with the idea of a stimulus check.
Joe Biden announced a series of monetary assistance based on the eligibility of the residents. Most of the people benefitted largely from the initiative. The money received from the check was mostly used up to meet the essential needs of the households.
However, after the initial three checks, no further announcements have been made. This has made the mass increasingly frustrated. Most of the families are still lagging in terms of rent, food supplies, etc. The Democrats are yet to earn the green signal to implement a social package worth $3.5 trillion.
Before the bill is approved by the GOP, some internal issues need to be addressed. One thing that has been unanimously decided is the source of funding- Taxes. However, the percentage of levied taxes are being conflicted.
The party has structured a spike in the tax rates for the top-earners. These will include wealthy citizens, top-level investors, high-end businesses, etc. Until the revenues come in, people can look at a new stimulus check. The check promises a sum of $1400 to families. Let us learn about the same below.
Stimulus Check: Hurry Up And Collect Your $1400
A stimulus check worth $1400 will be delivered by the federal government. It can be claimed by households having a new dependent in the year 2021. Families that gave birth to newborn babies are also eligible for the money. In order to apply for the check, one has to earn below $80000. In the case of joint filing, $160,000 is the limit.
These stimulus checks are aimed at the welfare of the children. The newly added dependents must be under eighteen years of age to receive the money. A sum of $1400 has been approved for each dependent/child.
