CNBC's "Power Lunch" team discusses how potential stimulus checks sent out to qualifying Americans may impact retailers with Terry Lundgren, former chairman and CEO of Macy's. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi After months of failed negotiations, lawmakers have finally agreed to a new $900 billion coronavirus relief package. Congressional leaders have not yet released text of the more than $2 trillion legislation — which will include broader government spending measures — but the pandemic recovery bill was set to include direct payments of up to $600 to eligible adults, plus $600 per child dependent. While the adult benefit would be half the size of the first stimulus check, the amount earmarked for qualifying dependents was raised by $100. Wondering whether you qualify? Here’s what you need to know. Under the new Covid relief package, at the full benefit amount, a family of four could potentially receive $2,400, though the income criteria for the second stimulus check have not yet been released. However, if it follows the same structure as the March CARES Act, those qualifying for a full stimulus payment include individuals earning up to $75,000, or $112,500 as head of household and $150,000 as a married couple filing jointly. For every $100 earned over these income thresholds, payments are reduced by $5, up to a specified maximum income. However, it is worth noting that the CARES Act checks were worth twice as much, so it is not yet clear how the $600 checks will be phased out. » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-shepard-smith-podcast.html?__source=youtube%7Cshepsmith%7Cpodcast Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC https://www.cnbc.com/select/best-credit-cards/ #CNBC #CNBCTV