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Congress Sends $1.9 Trillion Relief Package To President Biden

The House on Wednesday passed the $1.9 trillion Covid Relief package after adopting the changes made to the bill by the Senate last week.

House Democrats passed the legislation on party line vote of 220-211. No Republicans voted in favor. One Democrat voted against the bill: Rep. Jared Golden of Maine.

The bill will now head to President Biden to be signed into law which is said to be happening by the end of this week. If that holds, some Americans could begin to see checks as soon as next week.

Now that all the changes are finalized, here’s a refresher on whats in the bill.

Individuals earning less than $75,000 a year and married couples earning less than $150,000 will receive $1,400 per person, including children. That will get money to about 90% of households.

A $300 federal boost to weekly jobless payments and extension of two key pandemic unemployment benefits programs through September 6. The legislation would also make the first $10,200 worth of benefits payments tax-free for households with annual incomes less than $150,000.

It includes an expansion of the child tax credit to $3,600 for each child under 6 and $3,000 for each child under age 18. The credit would also become fully refundable so more low-income parents could take advantage of it. Also, families could receive payments monthly, rather than a lump sum once a year.

The bill would provide $350 billion to states and local governments.

It extends the 15% increase in food stamp benefits through September, instead of having it expire at the end of June.

It contains $880 million for the Special Supplemental Nutrition Program for Women, Infants, and Children, known as WIC and allows states to continue the Pandemic-EBT, which provides families whose children’s schools are closed with funding to replace free- and reduced-price meals the kids would have received, through the summer.

It sends $20 billion to state and local governments to help low-income households cover back rent, rent assistance and utility bills. $10 billion would be authorized to help struggling homeowners pay their mortgages, utilities and property taxes.
It sends nearly $130 billion to K-12 schools and $40 billion to colleges to help students return to the classroom. The bills would also provide about $39 billion to child care providers.
The bill makes federal premium subsidies for Affordable Care Act policies more generous and would eliminate the maximum income cap for two years. In addition, the bills would bolster subsidies for lower-income enrollees, eliminating their premiums completely, and would do the same for those collecting unemployment benefits in 2021.
The bill provides $14 billion for vaccine research and distribution and directs $47.8 billion toward testing, contact tracing and mitigation.

 

About J. Williams

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