The Monthly Economic Crisis Support Act was drafted by Sens. Kamala Harris, D-Calif., Bernie Sanders, I-Vt., and Ed Markey, D-Mass., and would provide a monthly $2,000 check to people who make less than $120,000.
“The coronavirus pandemic has caused millions to struggle to pay the bills or feed their families,” said Harris. “The CARES Act gave Americans an important one-time payment, but it’s clear that wasn’t nearly enough to meet the needs of this historic crisis. Bills will continue to come in every single month during the pandemic and so should help from government.”
That number would expand to $4,000 to married couples who file jointly, as well as add an extra $2,000 for each dependent child, up to three children.
Here is a breakdown of the income limits and how much money you would receive:
- Individuals with an income below $120,000: $2,000 monthly throughout and for three months following the pandemic
- Married couples who file jointly: $4,000
- $2,000 per child up to 3 children
“The one-time $1,200 check that many Americans recently received is not nearly enough to pay the rent, put food on the table and make ends meet. During this unprecedented crisis, Congress has a responsibility to make sure that every working-class household in America receives a $2,000 emergency payment a month for each family member,” Sanders said.
The eligibility rules for this bill are similar to the CARES Act, but the income limits have increased.
According to the legislation, the payments would be retroactive to March and last until three months after the Health and Human Services Department has declared the public health emergency over.
The legislation would also bar debt collectors from taking the payments and would deliver them regardless of whether people have a Social Security number or filed taxes last year.
Lawmakers say this bill would also ensure the homeless and foster youth receive payments.
Millions of Americans have already received or are in the process of receiving their first stimulus payments due to COVID-19.
According to Social Security Wage Statistics, 90.7% of all wage earners in America earn less than $100,000 per year.