SoylentNews is people
SoylentNews
from the a-billion-here-a-billion-there-pretty-soon-you're-talking-about-real-money dept.
Biden signs $1.9 trillion stimulus bill, making $1,400 checks and child tax credit official:
President Joe Biden on Thursday signed the $1.9 trillion coronavirus relief package, which includes a third stimulus check, for up to $1,400, and an expanded child tax credit. The IRS and Treasury will begin to send the new stimulus checks as soon as this weekend, White House Press Secretary Jen Psaki said Thursday at a press briefing.
The bill signing comes just one day after the amended bill passed in the House by a vote of 220-211. The House initially passed the bill on Feb. 26, and the Senate approved it last week, albeit with some changes.
[...] Democrats had been pushing to get the stimulus package signed into law before current unemployment benefits expire March 14. Biden was originally scheduled to sign the bill on Friday, but it got moved forward after Congress sent the final bill to the president more quickly than anticipated, Psaki said on Thursday.
The stimulus package, called the American Rescue Plan Act of 2021, includes changes made by the Senate last week, such as reducing income limits for the third stimulus payment and lowering proposed weekly unemployment benefits from $400 a week to $300 a week (though they'd extend through Sept. 6 rather than the end of August). The Senate also dropped a federal minimum wage increase from the legislation, but proponents say they'll reintroduce that at a later date.
How to watch President Biden's national address tonight.
House passes $1.9 trillion Covid relief bill, sends it to Biden to sign:
[...] Here are the proposal's major pieces:
- It extends a $300 per week jobless aid supplement and programs making millions more people eligible for unemployment insurance until Sept. 6. The plan also makes an individual's first $10,200 in jobless benefits tax-free.
- The bill sends $1,400 direct payments to most Americans and their dependents. The checks start to phase out at $75,000 in income for individuals and are capped at people who make $80,000. The thresholds for joint filers are double those limits. The government will base eligibility on Americans' most recent filed tax return.
- It expands the child tax credit for one year. It will increase to $3,600 for children under 6 and to $3,000 for kids between 6 and 17.
- The plan puts about $20 billion into Covid-19 vaccine manufacturing and distribution, along with roughly $50 billion into testing and contact tracing.
- It adds $25 billion in rental and utility assistance and about $10 billion for mortgage aid.
- The plan offers $350 billion in relief to state, local and tribal governments.
- The proposal directs more than $120 billion to K-12 schools.
- It increases the Supplemental Nutrition Assistance Program benefit by 15% through September.
- The bill includes an expansion of subsidies and other provisions to help Americans afford health insurance.
- It offers nearly $30 billion in aid to restaurants.
- The legislation expands an employee retention tax credit designed to allow companies to keep workers on payroll.
(Score: 2, Insightful) by Anonymous Coward on Friday March 12 2021, @07:03AM (4 children)
Who gives a fuck? There aren't that many millionaires and billionaires, so it would amount to nothing. Means-testing is extremely inefficient and delays getting checks to the people who do need it. A UBI is 100% better.
I can't believe we as a country are so stupid that we're willing to screw everyone over just so a few people who don't 'need' the money won't get it, even though it's an astronomically small sum to them.
(Score: 0) by Anonymous Coward on Friday March 12 2021, @06:26PM
I was going to sat Republicans, but they are happy to give money to the people that don't need it and worse than Scrooge when poor peoole need help.
(Score: 2) by DeathMonkey on Friday March 12 2021, @06:58PM (2 children)
I agree with you in general but this is a bill targeted specifically at COVID. So the question is what is the best way to mitigate the pandemic?
In my opinion, giving me and Jeff Bezos a check when we're making money off all this chaos is less productive than spending our checks on vaccines and distribution.
I'll stimulate the hell out of the economy myself if I can get vaxxed and go to restaurants again!
(Score: 1) by khallow on Saturday March 13 2021, @12:26AM (1 child)
I see that the covid vaccine is priced for under $40 [healthline.com] per dose. So the federal government could pay for full vaccination of everyone in the US for under $13 billion. Where's the need for the rest of the $1.9 trillion in spending?
(Score: 2) by Freeman on Monday March 15 2021, @03:45PM
Bread and Circuses
Joshua 1:9 "Be strong and of a good courage; be not afraid, neither be thou dismayed: for the Lord thy God is with thee"