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President Joe Biden inherits economic, political, and health crises that will test his administration early on

Biden announced he had an ambitious legislative agenda in his first year in office. Last week he launched a $ 9 trillion stimulus plan that will form the basis for negotiations with Republicans and Democrats in Congress

The rescue package aims to provide economic relief for individuals, small businesses, and state and local governments

The stimulus proposal includes four measures that you can take to put extra money in your wallet

Tens of millions of Americans would add 1Received $ 400 on the $ 600 stimulus checks the IRS distributed in late December and early January that would bring the total to $ 2Bringing $ 000

Ahead of the Georgia runoff earlier this month, Biden pledged to kickstart direct payments Democrats won both races and gave the party a slim majority in the Senate

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Biden’s proposal provides for a weekly $ 400 surcharge for state unemployment controls for several months

A pandemic relief package approved by Congress and President Donald Trump contained until Jan. March a federal benefit of $ 300

Other unemployment programs for freelancers (Pandemic Unemployment Assistance) and people who have exhausted their state benefits (Pandemic Emergency Unemployment Compensation) have also been extended to mid-March

Individuals who benefit from the PUA or PEUC programs and may be entitled to additional weeks can up to the 5th April continues to receive payouts

Biden’s proposal includes a measure to strengthen child tax credits and get a full refund for one year, which means people could get them no matter what tax they owe:

Parents could get the credit from the federal government after filing their taxes, but it could also be structured as a monthly payment

Currently the balance is on 1$ 400 capped for those who don’t owe at least that amount on their tax bill

During her confirmation hearing on Tuesday, Janet Yellen, Biden’s election as Secretary of the Treasury, told lawmakers on the Senate Finance Committee that she would “definitely check” with the IRS to see if it was possible to deliver the money monthly. p>

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Biden’s plan is to more than double the federal minimum wage to $ 15 an hour Congress hasn’t increased it from $ 725 in over a decade, but a timetable remains unclear

Republicans firmly oppose this, saying people could lose their jobs as many small businesses file for bankruptcy and lay off workers because of the pandemic

The Congressional Budget Office, a non-partisan government agency, projected that 27 million workers could receive a raise with the measure It was also projected that 13 million workers would be lifted out of poverty but the same number of jobs would be lost / p>

In 2019, the Democratically-run House approved a plan to gradually increase the federal minimum wage to $ 15 an hour by 2025

A growing body of research has found that some state and city wage increases in recent years have not adversely affected employers’ ability to hire more workers. Evidence of job losses has not been consistent

Yellen, a former Federal Reserve chairman, said in her audit hearing that job losses were generally “very low” in states that have raised workers’ wages

Biden Stimulus

World News – US – The 4 Actions in Biden’s Stimulus Plan That Could Put Extra Cash In Your Wallet

Source: https://www.businessinsider.com/biden-stimulus-4-measures-plan-democrats-relief-extra-cash-wallet-2021-1