Number of the Day Shows Limited Reach of Stimulus

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Halley Bondy is an expert in personal finance news, including the U.S. economy and investing. Before freelancing, Bondy worked at Oxygen, MTV World, and as a producer at Scary Mommy. Bondy has freelanced for various other outlets, including NBC Know Your Value and Business Insider. She earned her bachelor's from Barnard College.
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Halley Bondy
Updated December 22, 2020
$87,000 - That’s the income cutoff for receiving a stimulus check in the latest COVID-19 federal rescue package.

The Balance

That’s the income cutoff for receiving a stimulus check in the latest COVID-19 federal rescue package.

While adults with $75,000 or less in modified adjusted gross income in 2019 will receive the full $600 stimulus payment promised by the $900 billion economic relief package approved Monday, the check decreases by $5 for every $100 of income above those thresholds. That means those who earned $87,000 or more in 2019 will not get a check. (Because the checks in the spring were capped at $1,200, the 2019 income threshold back then was $99,000.)

Similarly, married couples and heads of household have lower cutoffs with the new round of checks too:

  • The phaseout for married couples filing jointly begins with income above $150,000 and ends at $174,000
  • The phaseout for heads of household begins at anything higher than $112,500 and ends at $124,500.

The stimulus checks will include up to $600 for each qualifying child as well. These payments also phase out along the same track, according to multiple certified public accountants who reviewed the bill.

Article Sources

  1. House Appropriations Committee. "Division-By-Division Summary of COVID-19 Relief Provisions," Page 7. Accessed Dec. 22, 2020.

  2. U.S. Department of the Treasury. "The CARES Act Provides Assistance to Workers and their Families." Accessed Dec. 22, 2020.