Congressmen drive President Biden’s $ 1 $ 9 trillion stimulus and aid package with $ 1$ 400 payments agreed on funding guidelines on Friday

Congress is responding to President Joe Biden’s call to move swiftly into another round of economic relief for the American people, including a third stimulus check for up to May 1$ 400 “I will act and I will act quickly,” Biden said Friday after meeting with House Democrats about his $ 1.9 trillion US aid plan “We need an answer that will meet the challenge of this crisis.”

In an overnight marathon session, the Senate approved the funding plan for Biden’s plan early Friday morning, followed by the House of Representatives in the afternoon.The next step is to build the legislation and turn it into a bill that Congress can vote on to pass the To speed up law, the Democrats are trying to circumvent possible delays by using powerful legislation called budget balancing that allows them to pass Biden’s law without Republican cooperation

According to Biden, part of the bill is non-negotiable: “I’m not reducing the size of the checks,” said Biden on Friday$ 400 That Was Promised to the American People. “However, his administration is open to” targeted “stimulus testing to exclude higher-income people. If approved, Biden’s plan would also fund programs that provide federal unemployment insurance and financial assistance to the state , local and tribal governments include what we know today of Biden’s proposal

As part of his plan, Biden has a stimulus check equal to 1$ 400 suggested The number of 1$ 400, if added to the $ 600 Congressional checks approved in late 2020, would equal the amount of $ 2US $ 000, which some in Washington are pushing for “The American bailout plan will make 2Maintain $ 000, “said Biden on Friday,” $ 600 has already run out – 1$ 400 checks to people who need them “

Unlike the previous two payments, this third round would attempt to include eligible adult dependents and mixed citizenship families here is all of the ways a third check can bring in more money, and here is how to do the stimulus check Can be more targeted to fewer people while the maximum limit is still above the $ 600 threshold in December Biden and Congress could also change the requirements for the third check, lowering the income cap for whoever qualifies for a payment, “We need this Targeting money, “Biden said Friday,” so people who get 300Earning $ 000, not a godsend”But if you are [a family with an income below a certain amount] you need the money and you will get it”

The House and Senate began paving the way for Biden’s proposal this week There are plans to use a tool called the budget reconciliation that will allow Congress to pass Biden’s relief bill without a Republican vote

With marginal margins in the Senate and House of Representatives, Biden has said he prefers to pass a new stimulus package with the support of both parties, which is why he met with Senate Republicans on Monday, but Biden reiterated his readiness after the meeting to pass a bill quickly. And on Wednesday, during a meeting with Congressional Democrats, he stressed that it was time to make an aid package “big, not small,” reported The Hill

The GOP stimulus would allocate $ 600 billion in economic and vaccine aid, roughly a third of the $ 1 billion biden it would spend on its plan$ 000 checks for individuals and families included and income qualification to 50$ 000 for individuals and $ 100$ 000 limited for a family The first two checks were single payments over an income of $ 75$ 000 set for families, payments have been set over $ 150$ 000 hired Biden can borrow the income limits of this plan for himself

While the Republican framework would reflect Biden’s dollar number for COVID-19 vaccine research and distribution ($ 160 billion), it would cut the amount of money spent on schools, cut funding for state and local governments, and one Consider shortening the term. Unemployed people could receive federal unemployment benefits

The $ 300 Weekly Unemployment Review Approved in December under the $ 900 Billion COVID Relief Legislature expires in March during his presidential campaign, Biden pushed for unemployment reform, saying he will work with Congress to extend unemployment benefits, approved under the CARES bill last year and renewed in December, “as long as this crisis lasts”

Biden’s plan is to pay $ 400 unemployment benefits through September, with triggers extending benefits after September for those who remain unemployed and automatic payment adjustments related to health and economic conditions

Democrats will push to extend federal unemployment benefits, increasing it to an additional $ 600 per week

While over 30 million doses have been distributed in the U.S. to date, that is way below the 100 million doses Trump promised to distribute by the end of 2020, Biden has set a goal of 100 million vaccine sticks in the first 100 days of his administration

Biden’s plan is $ 160 billion for a nationwide immunization program (another plan is $ 400 billion) “I will immediately stand up for the urgent need to ask Congress to provide me with the financial means to deal with the virus,” said Biden Jan 8 “I’m determined to get 100 million shots into people’s arms in the first 100 days”

In his plan, Biden suggests expanding the child tax credit, which currently gives families a credit of up to 2$ 000 for children under the age of 17 If approved, the plan would extend benefit to lower-income families who would otherwise not receive credit. Under Biden’s plan, families could cover a young child up to 3600 USD per year and for an older child up to 3Claim $ 000 per year

The plan would also extend childcare tax credits by one year to cover childcare costs. According to Biden’s plan, families could get back up to half of their childcare expenses for children under 13 as a tax credit, up to 4$ 000 for a single child and 8$ 000 for two or more children

While it’s not clear whether a minimum wage hike will be included in the final bill – and the Senate signaled Friday that it would like to rule it out – Biden’s overall agenda will push for a minimum wage hike from the current $ 725 each Hour “It’s time to raise the minimum wage,” said Biden Jan 8 “Nobody, nobody should work millions like today, 40 hours a week on a job and still living below the poverty line. You are entitled to a minimum wage of at least $ 15 an hour”

On Jan 24, Biden signed an executive order directing the Human Resources Bureau to make recommendations to raise the minimum wage to $ 15 an hour

A crucial part of the economic recovery is the return of students to campus. “We will also need tens of millions of dollars to reopen and safely reopen our schools,” Biden said on Jan 8 The Biden Plan would help get students back to school by making the majority of classrooms for kindergarten through grade 8 Class will safely reopen in the first 100 days of administration

In addition to expanding Republican-sponsored liability coverage, Democratic support for funding state, local, and tribal governments was a major barrier to reaching an agreement on a new economic aid package in the second half of last year as the Democrats soon take control of the house , the Senate and the White House, Biden has pledged support for state and local funds as part of his government’s aid package

Since the fall, economists have urged Congress to allocate funding to state and local public jobs: “The case for extra aid is strong, as the downside risk of doing nothing is quite real,” wrote the conservative American Enterprise Institute Think Tank, late last year “The fact that over 1 million government and local government employees have lost their jobs is a sign that the financial hardship has had real consequences”

On Jan 8, Biden reiterated concern that state and local governments are “cutting jobs” as a result of the pandemic, pledging to “provide immediate relief.” “In addition to state and local funding, Biden’s plan would provide food and water aid and funding Provide food stamps

On Jan 20, Biden signed an executive order extending the eviction ban to March, which means it may not be part of the final new stimulus bill at all Biden’s proposal would extend eviction and foreclosure moratoria through September 30. The plan provides for rent support of 30 Billion USD for renters and small landlords, especially for low and middle income households

On Jan 8, Biden administration officials said the new president would ask Congress to reduce student debt by Jan.To cut $ 000 for all borrowers and extend the student loan repayment hiatus, CNBC reported None of the stimulus programs appear to be addressing student loan forgiveness

We’ll keep this story updated as Biden reveals more details of his plans for more information on stimulus money, check out Key Facts You Need About Business Cycle Tests, as well as Key Federal Unemployment Benefits

Stimulus Check 3, Stimulus Package

World News – USA – Status of the Stimulus Bill: Everything important that happened today, including an update from 1$ 400

Source: https://www.cnet.com/personal-finance/stimulus-bill-status-everything-important-that-happened-today-including-1400-check-update/