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Biden cuts 16 million people off from stimulus checks after striking deal with moderate Senate Democrats, study says

1 month ago   |   By Business Insider

President Joe Biden.
Evan Vucci/AP
A preliminary analysis indicates roughly 16 million people won't a third stimulus check under a new compromise.
Biden struck a deal to cap the checks at a lower income threshold, which affects wealthier Americans.
The checks will phase out for individuals making over $80,000 and for married couples above $160,000.
Visit the Business section of Insider for more stories .
A faster phaseout for the $1,400 checks in President Joe Biden's stimulus plan would exclude more than 16 million Americans from receiving one, according to a preliminary analysis from the...
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Joe Biden has reportedly approved cutting the number of people eligible for a third stimulus check

1 month ago   |   By Business Insider

President Joe Biden.
Jabin Botsford/The Washington Post via Getty Images
Joe Biden has reportedly signed off on tightening eligibility for a third stimulus check.
It would prevent wealthier people from getting a payment because the income thresholds are capped lower.
Individuals earning above $80,000 would no longer qualify for a stimulus check.
Visit the Business section of Insider for more stories .
President Joe Biden has reportedly signed off on faster phaseouts for $1,400 stimulus checks, a step that would cut the number of people eligible for a third direct payment in the $1.9...
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