Some of us won't be getting stimulus checks. It's still well worth it.

Can't say I'm especially pleased about this news.

Democrats are lowering the income caps for the $1,400 stimulus checks, here are the phase-out levels:
-$75,000 for single filers; capped at $80,000
-$112,500 for heads of households; capped at $120,000
-$150,000 for joint filers; capped at $160,000 https://t.co/WptOrI7MLM pic.twitter.com/tOVWyfb7ij

— CNBC (@CNBC) March 3, 2021

Here's a graphical illustration how this changes things compared to prior stimulus checks.

The new Senate bill is that sharply dropping yellow line, which means while the majority of Americans would get a full, larger stimulus check, there is that one segment between $160,000 and $174,000 that got checks the first 2 times, and now will get ZERO.

I don't see what the point of speeding up the phase-out is - there are many other areas to limit the cost of the bill that doesn't cut off as many people, and there are likely quite a few upper middle-class people that will be unhappy not to get a check. But if that's what has to be done for this package to get 50 votes and get through this week, it's worth it.

Upshot among House Dems after Senate Dems (backed by Biden) tighten eligibility for stimulus checks: Not pleased by the change but not enough concern to tank the underlying $1.9 trillion relief bill

— Manu Raju (@mkraju) March 3, 2021

We still have several million out of work with job growth stagnating (as shown in today's disappointing ADP report for February), and we need to keep our foot on the gas until a majority of us are vaccinated. And while it is small ball to speed up the phase-out, it would be even smaller and dumber for the House to make it into a big argument and delay this any longer.

Speaking of petty and stupid....

Ron Johnson: "I'm going to make them read their 600-700 page bill."

Johnson also plans to force votes on a HUGE amount of amendments to drag it out. "We need to keep this process going...I'm going to lead the effort to resist this thing."

Suggests it could drag into Sunday

— Manu Raju (@mkraju) March 3, 2021

pic.twitter.com/zREnlZHA8C

— Tim Heesen (@TimHeesen) March 4, 2021

And the pettiness is not just Ron Johnson himself, but the outdated Senate procedural BS that is going to waste hours and days for...what?

I imagine the official US jobs report is going to be "meh" on Friday, and it'll reiterate that it's time to finish this off, and get the checks out (to most of us, anyway). Then keep pounding on COVID, and step up work on the next economic items - the higher minimum wage and a sizable infrastructure package.