The pandemic recovery bill includes direct payments of up to $600 to eligible adults, plus $600 per child dependent.
While the adult benefit is half the size of the first stimulus check, the amount earmarked for qualifying dependents was raised by $100. At the full benefit amount, a family of four could potentially receive $2,400.
Those qualifying for the maximum stimulus payment include individuals earning up to $75,000 in adjusted gross income, or $112,500 as head of household and $150,000 as a married couple filing jointly.
Payments are reduced at the same rate as the CARES Act checks. For every $100 earned over these income thresholds, payments are docked $5. However, the AGI caps are lower this time.
Individuals with $87,000 in income and married couples who file jointly earning $174,000 will not receive any payment. Therefore, fewer people will qualify for payments, and for those who do receive a check, some will be getting a lot less than the first round of payments.