Individuals making less than $75,000 a year would receive the full amount, according to the latest deal on the relief bill. The payments decrease for individuals earning $75,000 and up — and they phase out completely for individuals making $80,000 or more. That’s a change from a prior income cap of $100,000.

Couples who file taxes jointly and earn less than $150,000 a year will get full payments. The checks become smaller for joint filers making $150,000, and they phase out entirely at $160,000. That’s a change from a prior income cap of $200,000 for couples.

“Head of household” filers, such as single parents, would see a phase-out starting at an income level of $112,500 and no payments above $120,000.

Biden and the Democratic-run Senate and House are working toward enacting their $1.9 trillion relief legislation before March 14, when several pandemic-related jobless programs are due to expire.

See: Senate set to pass $1.9 trillion aid package by end of the week

The third round of stimulus checks would come after $1,200 checks last spring and $600 payments in December.

U.S. stocks SPX, -1.31% DJIA, -0.39% traded lower Wednesday afternoon, after the Federal Reserve’s Beige Book survey showed only a modest uptick in economic activity to start the year, despite progress with COVID vaccines.

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