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Getty Images We re inching closer to a third stimulus check. After some unexpected delays, Congress finally passed the bill containing President Biden s $1.9 trillion stimulus package on Wednesday afternoon. The bill will now be sent to the White House, where President Biden is expected to sign the legislation on Friday. However, the stimulus check plan in the original version of the bill is different than what s found in the final bill. While in the Senate, a more aggressive stimulus check phase-out (i.e., reduction) rate was added. The new rate made the stimulus check provisions more targeted to people who need assistance the most. As a result, according to the Institute on Taxation and Economic Policy, nearly 12 million American adults who would have received a partial third stimulus check under the original bill won t get any payment under the final bill. ....
Congress finally passes the $1.9 trillion COVID-relief bill. But fewer people will get a third stimulus check under the final bill than under the original version. ....
The House passed President Biden's $1.9 trillion stimulus package. While the bill faces hurdles in the Senate, the provisions authorizing another round of stimulus payments seem safe. ....