29 Million People Would Not Get Stimulus Checks Under GOP's COVID Relief Plan .
Senate Republicans revealed a $618 billion counterproposal to Biden's $1.9 trillion coronavirus relief plan on Monday.
Sen.
Susan Collins and 10 of her colleagues met with President Biden Monday evening to try to come to an agreement.
Under the GOP's plan, individuals earning more than $50,000 a year and couples earning more than $100,000 would not receive stimulus checks.
Under Biden's plan, individuals earning less than $75,000 and couples earning less than $150,000 would be included.
Republicans also want to provide smaller $1,000 payments than Biden's $1,400 payments.
Biden's stimulus payment plan would cost $465 billion versus the GOP's $220 billion proposal.
Some economists have argued that when stimulus checks are being paid to those who've not been financially hurt by the pandemic, it doesn't really help the economy.
Instead of paying bills or rent with the funds like those who need it most, they're stashing it away in savings
