This bill — known as the Caring for Americans with Supplemental Help (CASH) Act — would increase the size of the economic impact payments (aka recovery rebates or stimulus payments) in the recently enacted coronavirus relief package from $600 per person with a Social Security Number to $2,000. It would also allow adult dependents to qualify for a payment, as they don't count toward a household's payment amount like adults and child dependents do under the enacted bill. The payment amounts would still be gradually decreased for individuals earning over $75,000 before being phased out entirely at $99,000 (amounts doubled for married filers).
What is House Bill H.R. 9051?
Cost of House Bill H.R. 9051
In-Depth: House Ways and Means Committee Chairman Richard Neal (D-MA) introduced this bill to increase the size of direct payments to Americans under the recently enacted coronavirus relief package from $600 to $2,000:
“For months, Democrats have consistently sought to provide Americans with a substantial second round of direct financial assistance. Now that the President has finally endorsed that idea as well, we’re ready to immediately pass the CASH Act to put an additional $2,000 into the pockets of folks in need. Congressional Republicans must join us in this effort and not block critical relief from reaching families who are hurting.”
President Donald Trump has called for Congress to “increase the ridiculously low $600 to $2,000 or $4,000 for a couple.” While he delayed signing the coronavirus relief and omnibus spending package, he ultimately did so.Numerous Republicans in Congress have said they oppose increasing the size of payments from $600 to $2,000 because it would increase the deficit beyond a level they're comfortable with. According to a report in Bloomberg, the Joint Economic Committee estimates that the $600 payments in the enacted relief package will cost about $164 billion; and the Committee for a Responsible Federal Budget projects that increasing the payments to $2,000 would cost an additional $435 billion, bringing the total cost to about $599 billion.
CASH Act of 2020
To amend the Internal Revenue Code of 1986 to increase recovery rebate amounts to $2,000 for individuals, and for other purposes.
- Not enactedThe President has not signed this bill
- The senate has not voted
- The house Passed December 28th, 2020Roll Call Vote 275 Yea / 134 Nay
Committee on Ways and MeansIntroducedDecember 28th, 2020
- house Committees