From what I can tell in the bill, it is based strictly on Adjusted Gross Income, not earned income. As long as you are a resident alien or citizen and not used as a dependant or deduction on someone else's return, you are eligible. Of course, reading and understanding bills isn't my fortay.
Something tells me when all is said and done, this will mess up people's expected tax refunds that they would get for the 2020 tax year when they file in early 2021.
SEC. 2201. 2020 RECOVERY REBATES FOR INDIVIDUALS.
(a) In General.--Subchapter B of chapter 65 of subtitle F of the
Internal Revenue Code of 1986 is amended by inserting after section
6427 the following new section:
``SEC. 6428. 2020 RECOVERY REBATES FOR INDIVIDUALS.
``(a) In General.--In the case of an eligible individual, there
shall be allowed as a credit against the tax imposed by subtitle A for
the first taxable year beginning in 2020 an amount equal to the sum
of--
``(1) $1,200 ($2,400 in the case of eligible individuals filing
a joint return), plus
``(2) an amount equal to the product of $500 multiplied by the
number of qualifying children (within the meaning of section 24(c))
of the taxpayer.
``(b) Treatment of Credit.--The credit allowed by subsection (a)
shall be treated as allowed by subpart C of part IV of subchapter A of
chapter 1.
``(c) Limitation Based on Adjusted Gross Income.--The amount of the
credit allowed by subsection (a) (determined without regard to this
subsection and subsection (e)) shall be reduced (but not below zero) by
5 percent of so much of the taxpayer's adjusted gross income as
exceeds--
``(1) $150,000 in the case of a joint return,
``(2) $112,500 in the case of a head of household, and
``(3) $75,000 in the case of a taxpayer not described in
paragraph (1) or (2).
``(d) Eligible Individual.--For purposes of this section, the term
`eligible individual' means any individual other than--
``(1) any nonresident alien individual,
``(2) any individual with respect to whom a deduction under
section 151 is allowable to another taxpayer for a taxable year
beginning in the calendar year in which the individual's taxable
year begins, and
``(3) an estate or trust.