• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants
Financestimulus

Would you get Biden’s $1,400 stimulus check? Take a look at the floated income thresholds

By
Lance Lambert
Lance Lambert
and
Anne Sraders
Anne Sraders
Down Arrow Button Icon
By
Lance Lambert
Lance Lambert
and
Anne Sraders
Anne Sraders
Down Arrow Button Icon
February 4, 2021, 3:17 PM ET
Add Fortune on Google for similar content.

President Joe Biden wants to go big: an economic aid bill totaling $1.9 trillion, including $1,400 stimulus checks.

But many Americans who got the first two rounds aren’t guaranteed to get a check this time. Last month the White House indicated it might lower the income thresholds and cutoffs for the direct payments.

On Thursday, the Washington Post reported that Democrats are considering sending $1,400 direct payments to individuals earning $50,000 or less, and $2,800 to married couples earning $100,000 or less. Those families would also get $1,400 per child dependent. The White House did not respond to Fortune’s request for comment on the income thresholds being discussed.

Those proposed income thresholds, as outlined by the Washington Post, are significantly lower than the two stimulus payments ($1,200 in March and $600 in December) that President Donald Trump signed into law in 2020 with bipartisan support. In 2020, full stimulus payments went to individuals earnings $75,000 or less, and to married couples filing jointly with incomes under $150,000. The two previous rounds of stimulus checks in 2020 completely phased out checks for individuals earning above $99,000, and joint filers with no children at $198,000. (It’s currently unclear what Democrats’ phaseouts will look like.)

But it’s important to keep in mind that income thresholds for stimulus checks last year were based on 2019 adjusted gross income (AGI). It’s expected that Biden’s income thresholds will also use AGI, which is usually well under your pretax income. The median U.S. AGI was $43,614 in 2018, according to the IRS.

There is support from both sides for lowering the income thresholds. Indeed, earlier this week 10 Republican senators unveiled a plan that included $1,000 stimulus checks, which would start to phase out for individuals making $40,000 per year and completely cut off for those making $50,000 per year.

While Biden is set on $1,400 checks, senators from both parties have discussed lowering the income levels to help target the payments so they go to individuals who are in financial need and will spend them on necessities—not to those who are more affluent. Some economists and recent studies suggest more “targeted” income levels would better benefit the overall economy (and provide a greater return on investment). “You want to maximize your bang for your buck, so to speak,” Brett Ryan, senior U.S. economist at Deutsche Bank, recently told Fortune. “You want to target those with the largest marginal propensity to consume in order to have those dollars go back into the economy and have the largest impact. You don’t want that check just to be saved.”

While income thresholds might drop, payments for children are expected to rise. The Democratic plan, as outlined by the Washington Post, would send $1,400 stimulus payments per child dependent. That would mark a significant increase from the 2020 direct payments: The March 2020 CARES Act sent $600 for each minor dependent, as did the December 2020 stimulus package.

From here it could take weeks for a package to pass. Democrats, however, are already laying the groundwork. Earlier this week House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer initiated the reconciliation process—a key step if they plan to pass something along the lines of Biden’s $1.9 trillion relief proposal. By using reconciliation, Democrats could move the package through the Senate even in the face of united opposition from all 50 Senate Republicans. In that scenario, Schumer would need the support of all 50 Democratic senators as well as Vice President Kamala Harris’s tiebreaking vote.

About the Authors
By Lance LambertFormer Real Estate Editor
Twitter icon

Lance Lambert is a former Fortune editor who contributes to the Fortune Analytics newsletter.

See full bioRight Arrow Button Icon
Anne Sraders
By Anne Sraders
LinkedIn iconTwitter icon
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

t
Real EstateHousing
Congress just passed the most significant housing bill in decades, so why won’t Trump sign it?
By Alex Veiga and The Associated PressJune 25, 2026
1 hour ago
The bond market knows something about the $39 trillion national debt that Washington doesn’t
EconomyDebt
The bond market knows something about the $39 trillion national debt that Washington doesn’t
By Eva RoytburgJune 25, 2026
1 hour ago
President Donald Trump speaking at a rally in Pennsylvania on June 23, 2026.
Economyoil and gas
Trump turns on Big Oil donors who spent nearly $100 million to get him elected—now he wants the DOJ to investigate them for price gouging
By Tristan BoveJune 25, 2026
2 hours ago
A man pumps his car with gas.
EconomyInflation
U.S. companies swallowed the oil shock. They’re not sure they can do it again
By Sasha RogelbergJune 25, 2026
3 hours ago
Private equity gets cut of two of Taylor Swift’s biggest pop hits through Max Martin’s catalog sale
Arts & Entertainmentprivate equity
Private equity gets cut of two of Taylor Swift’s biggest pop hits through Max Martin’s catalog sale
By Mia OsmonbekovJune 25, 2026
5 hours ago
stock
InvestingMarkets
How one chip stock reversed the global tech selloff, exposed AI’s ‘memory tax’ and made the case for an entire valuation regime change
By Nick LichtenbergJune 25, 2026
7 hours ago

Most Popular

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
16 hours ago
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
Success
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
By Orianna Rosa RoyleJune 24, 2026
2 days ago
Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants
Success
Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants
By Orianna Rosa RoyleJune 25, 2026
16 hours ago
Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less
Retail
Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less
By Nick LichtenbergJune 24, 2026
1 day ago
Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’
Asia
Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’
By Nick LichtenbergJune 24, 2026
1 day ago
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
Success
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
By Orianna Rosa RoyleJune 23, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.