Stimulus package: Here's what's in Biden's $1.9 trillion economic rescue plan - CNNPoli... - 0 views
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Bigger stimulus checks. More aid for the unemployed, the hungry and those facing eviction. Additional support for small businesses, states and local governments. Increased funding for vaccinations and testing.
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The new payments would go to adult dependents that were left out of the earlier rounds, like some children over the age of 17.
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Billed as the American Rescue Plan, the package augments many of the measures in Congress' historic $3 trillion coronavirus relief bill from March and in the $900 billion legislation from December,
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Biden is pushing for the big steps he says are needed to address immediate needs and control the coronavirus pandemic. He also plans to lay out an economic recovery plan in coming weeks that aims to create jobs and combat the climate crisis, among other measures.
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The plan calls for sending another $1,400 per person to eligible recipients. This money would be in addition to the $600 payments that were approved by Congress in December and sent out earlier this month -- for a total of $2,000
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Biden would increase the federal boost the jobless receive to $400 a week, from the $300 weekly enhancement contained in Congress' relief package from December.
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He would also extend the payments, along with two key pandemic unemployment programs, through September. This applies to those in the Pandemic Emergency Unemployment Compensation program who have exhausted their regular state jobless payments and in the Pandemic Unemployment Assistance program, which provides benefits to the self-employed, independent contractors, gig workers and certain people affected by the pandemic.
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These are key parts of a $1.9 trillion proposal that President-elect Joe Biden unveiled Thursday evening.
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The plan would provide $25 billion in rental assistance for low- and moderate-income households who have lost jobs during the pandemic. That's in addition to the $25 billion lawmakers provided in December.
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Biden would extend the 15% increase in food stamp benefits through September, instead of having it expire in June.
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The plan calls on Congress to create a $25 billion emergency fund and add $15 billion to an existing grant program to help child care providers, including family child care homes, to pay for rent, utilities, and payroll, and increased costs associated with the pandemic like personal protective equipment.
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Biden wants to boost the Child Tax Credit to $3,600 for children under age 6 and $3,000 for those between ages 6 and 17 for a year.
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Also, he wants Congress to provide $4 billion for mental health and substance use disorder services and $20 billion to meet the health care needs of veterans.
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It also proposes making a $35 billion investment in some state, local, tribal, and non-profit financing programs that make low-interest loans and provide venture capital to entrepreneurs
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Under Biden's proposal, people who are sick or quarantining, or caring for a child whose school is closed, will receive 14 weeks of paid leave. The government will reimburse employers with fewer than 500 workers for the full cost of providing the leave.
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he plan calls for providing $15 billion to create a new grant program for small business owners, separate from the existing Paycheck Protection Program.
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He wants to increase and expand the Affordable Care Act's premium subsidies so that enrollees don't have to pay more than 8.5% of their income for coverage -- which is also one of his campaign promises. (The law is facing a challenge from Republican-led states that is currently before the Supreme Court.)
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Biden wants to send $350 billion to state, local and territorial governments to keep their frontline workers employed, distribute the vaccine, increase testing, reopen schools and maintain vital services.
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Additional assistance to states has been among the most controversial elements of the congressional rescue packages, with Democrats looking to add to the $150 billion in the March legislation and Republicans resisting such efforts. The December package ultimately dropped an initial call to include $160 billion.
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Biden's plan would also give $20 billion to the hardest-hit public transit agencies to help avert layoffs and the cutting of routes.
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The plan would provide an additional $170 billion to K-12 schools, colleges and universities to help them reopen and operate safely or to facilitate remote learning.
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It would also fund the hiring of 100,000 public health workers, nearly tripling the community health workforce.
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The proposal would also invest $50 billion in testing, providing funds to purchase rapid tests, expand lab capacity and help schools implement regular testing to support reopening.
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The plan calls for investing $20 billion in a national vaccination program, including launching community vaccination centers around the country and mobile units in hard-to-reach areas
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Biden is calling on Congress to raise the minimum wage to $15 an hour, and to end the tipped minimum wage and the sub-minimum wage for people with disabilities.