For Immediate Release
New Analysis Shows Average Rebate for Families in the Senate Stimulus Bill
WASHINGTON - The Senate agreed to a compromise stimulus bill last night that improves on flaws in its initial bill but still fails to go as far as other proposals and leaves out immigrants who file taxes via Individual Taxpayer Identification Numbers (ITIN), the Institute on Taxation and Economic Policy said today.
The bill provides up to $1,200 in payments or rebates for individuals with income up to $75,000 a year and $500 per child. Benefits start to phase out for singles with income greater than $75,000 and married couples with incomes greater than $150,000.
The average rebate for households is $1,720. The below chart shows average payments for each income group. State-by-state numbers are also available.
“Compromises are never perfect, but this bill is far closer to addressing the public’s needs than the bill Sen. McConnell released five days ago,” said Amy Hanauer, executive director of ITEP. “Advocates pushed to strengthen standards around corporate aid in the final deal and Democrats successfully negotiated to expand worker protections, limit stock buybacks and executive bonuses for firms getting aid and expand public oversight. The bill unfortunately leaves out immigrants who file taxes using ITINs, and millions of individuals who didn’t file taxes in 2018 will not get immediate relief. But strong fiscal aid to states is essential right now and this $2 trillion package will help the country slow a fast downward spiral.”
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Founded in 1980, the Institute on Taxation and Economic Policy (ITEP) is a non-profit, non-partisan research organization, based in Washington, DC, that focuses on federal and state tax policy. ITEP's mission is to inform policymakers and the public of the effects of current and proposed tax policies on tax fairness, government budgets, and sound economic policy. ITEP’s full body of research is available at www.itepnet.org.