BIDEN SUPPORTS PHASING OUT STIMULUS PAYMENTS

UNITED STATES PRESIDENT JOE BIDEN SAID ON TUESDAY HE AGREED WITH A PROPOSAL BY DEMOCRATIC LAWMAKERS THAT WOULD LIMIT OR PHASE OUT STIMULUS PAYMENTS TO HIGHER-INCOME INDIVIDUALS AS PART OF HIS $1.9 TRILLION CORONAVIRUS RELIEF BILL.

ASKED DURING A MEETING WITH BUSINESS LEADERS WHETHER HE SUPPORTED THE PROPOSAL BY DEMOCRATS IN CONGRESS, WHICH WOULD SEND $1,400 STIMULUS CHEQUES TO AMERICANS EARNING UP TO $75,000 IN INCOME AND HOUSEHOLDS MAKING UP TO $150,000, BIDEN SAID, “YES”. THE PRESIDENT, SPEAKING DURING A MEETING WITH CORPORATE LEADERS IN THE OVAL OFFICE, SAID HE HAD BEEN IN TOUCH WITH REPUBLICAN LEADERS ABOUT THE PACKAGE.