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Under the new plan, anyone who individually earns more than $80,000 annually, or couples filing jointly earning more than $160,000 will be cut off from the checks under the revised plan.
The House version of the bill set income caps at $100,000 individually and $200,000 for couples.
Singles making between $80,000 and $100,000 and couples earning between $160,000 and $200,000 would be newly excluded from a partial benefit under the revised structure Biden agreed to.
Unlike the previous two rounds of stimulus checks, it is believed that adult dependents - including college students - will be eligible for the payments.
Last year, the federal government under President Donald Trump sent out a first round of checks of up to $1,200 to most Americans, with another round of $600 payments distributed earlier this year. The newly proposed $1,400 checks would round out the payment to $2,000.
"He is comfortable and knows there will be tweaks on the margin,” White House Press Secretary Jen Psaki said on Wednesday, March 3. “What his firm viewpoint is, is that it needs to meet the scope of the challenge, it needs to be the size he’s proposed, it needs to have the core components in order to have the impact on the American people.”
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