A group of Republican Senators will be meeting with President Biden to discuss a smaller stimulus proposal. Like Biden’s previous $1.9 trillion proposals, this plan extends enhanced unemployment benefits and nutritional assistance and includes funding for vaccines, PPE, and help for schools.
If you’re eligible for a payment, but don’t receive it by the end of January, you may have to claim it as a Recovery Rebate Credit on your 2020 tax return. If you’re eligible for a bigger payment than you received, you can claim the difference on your 2020 tax return.
Biden's package also includes a push to raise the federal minimum wage to $15 per hour. Many leading economists warn that additional support from the federal government may be needed until the pandemic has subsided and people can safely return to work.
