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GOP bill on immediate checks: -- $1,200 per person ($2,400 if filing jointly) -- $500 per kid -- Begins to phase out above $75K -- Phases out completely above $99K -- Much smaller benefit, of $600, for millions w/o federal tax liabilitypic.twitter.com/mPggn8eepS
Also key: whether you qualify depends on your *2018* IRS tax returns. Some experts have asked: What if you made above the threshold then but because of coronavirus make below the threshold now?https://www.washingtonpost.com/business/2020/03/19/trump-coronavirus-economic-plan-stimulus/?itid=ap_jeffstein …
Another key point: GOP legislation only calls for a onetime check, rather than recurring checks for the duration of the crisis as in Bennett/Brown/Booker (D) plan) Sen. Grassley statement suggests they could revisit if necessaryhttps://www.washingtonpost.com/business/2020/03/19/trump-coronavirus-economic-plan-stimulus/ …
Early analysis of GOP plan from @ernietedeschi, a former Obama administration economist:pic.twitter.com/XoEkgaLWMN
Means testing? Who do they think they are, Democrats?
What do we want to call the limits on the low end of the income spectrum? It's the opposite of means testing.
Evil
Sorry if this is a dumb question, but how will the govt even know your current income?
Says based on 2018 tax returns
Too little too slow.
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