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$600 one-time payments as part of a second stimulus payout

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A second stimulus check was approved on Sunday as part of a $900 billion dollar bill. The $600 one-time payment will be sent to those eligible based on their 2019 reported income. The amount of the one-time payment depends on the income of the household.

Eligible individuals will receive $600, or $1200 in the case of eligible individuals filing a joint return, plus an amount equal to the product of $600 multiplied by the number of qualifying children. The term “qualifying child” means a qualifying child of the taxpayer who has not attained age 17.

Individuals making less than $75,000, and married couples filing jointly with a combined income of $150,000 will be eligible to receive the entire $600 one-time payment. Single filers that make more than $75,000 and couples filing jointly that have income higher than $150,000 will have their payments reduced at a rate of $5 for every $100 of additional income.

To be eligible, the individual cannot be a nonresident alien, any individual with respect to whom a deduction under section 151 is allowable to another taxpayer for a taxable year beginning in the calendar year in which the individual’s taxable year begins, and not an estate or trust.

President Trump disagreed with the amount of the one-time payment, and instead recommended the amount of $2000 as a direct payment to eligible individuals. On Monday, the House of Representatives passed a measure to increase the stimulus checks to $2000. On Tuesday, Senate Majority Leader McConnell blocked a bid to unanimously pass the $2000 stimulus check without a vote, and then also blocked allowing a vote to be brought to the floor on Wednesday though he did say the $2000 stimulus check was his focus.

Senator Bernie Sanders stated he will filibuster an override of President Donald Trump’s defense bill veto unless the Senate holds a vote on providing $2,000 direct payments to Americans.