Joe Biden Has Approved Cutting The Number Of People Eligible For A Third Stimulus Check

jzeballos@businessinsider.com (Joseph Zeballos-Roig), Business Insider
Wed, 03/03/2021 - 9:22am

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 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 trillion economic rescue plan that is awaiting passage into law.A Democratic aide confirmed to Insider the president approved paring back the thresholds at the higher end of the income spectrum.

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