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Reply to "Pelosi unveiling House plan @ 2pm, posts some details"
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[quote=Anonymous]The stimulus phases out at $115K per person / $230K for married couples. The legislation says: "The amount of a payment under subparagraph (A) shall be reduced (but not below zero) by 5 percent of so much of the individual’s adjusted gross income as exceeds $75,000. The Secretary of the Treasury shall adjust such amount as appropriate to account for individuals filing joint returns." So if someone makes $110K/year: $110K - 75K = $35K $35K * 5% = $1,750 $2000 - $1750 = $250 They would get a monthly stimulus for $250, delivered either to their digital wallet or in a paper check. [/quote]
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