On Saturday, the Senate passed President Biden‘s $1.9 trillion Covid Relief bill known as the American Rescue Plan.
The legislation includes a direct payment of up to $1,400 for an individual, or $2,800 for a couple that files jointly, plus an additional $1,400 per dependent.
It extends jobless benefits through Sept. 6 at $300 a week. The bill also includes language that makes the first $10,200 of jobless benefits non-taxable for households with incomes under $150,000.
Around $46 billion is allocated to expand federal, state and local testing for COVID-19 and to enhance contact tracing. There is another $14 billion to specifically help speed up the distribution and administration of vaccines.
Money is also being allocated to schools to help cover costs around pandemic safety measures like reducing class sizes to provide social distancing, install ventilation systems, and pay for personal protective equipment.
The bill also includes changes to the Affordable Care Act and Child Tax Credits. The expansion of tax credits for Americans with children, increases in childcare subsidies, and an expansion of food stamps and rental assistance could potentially cut child poverty in half.
The bill will now head back to the House, where they will vote on the changes that were made in the Senate’s version of the bill. That vote is currently scheduled for Tuesday and is expected to once again pass on a party-line vote.
Once it clears the House, the bill will go to President Biden for his signature. People could start seeing the $1,400 stimulus payments hit their bank accounts within days of Biden signing the bill.