US President Biden signs US$1.9 trillion COVID-19 relief package

From Wikinews, the free news source you can write!
Jump to navigation Jump to search

Sunday, March 14, 2021

On Thursday, United States President Joe Biden signed the American Rescue Plan Act, a USD 1.9 trillion stimulus relief package that provides a maximum of $1400 in direct payments to individuals making no more than $75 thousand annually. The bill was passed in the United States House of Representatives with a 220–211 vote on Wednesday and in the United States Senate with a 50–49 vote along party lines through budget reconciliation.

The bill includes $300 billion in unemployment benefits through September and expands the tax credit per child to $3600. The bill also supplies $350 billion to state as well as local governments and $14 billion for distributing vaccines. The bill offers a funding of $130 billion in schools, which would help them reopen safely. Small businesses will get $50 billion, and the Paycheck Protection Program will get $7 billion. Small and mid-sized restaurants, which have been hard hit by the COVID-19 pandemic, will be given $25 billion in relief.

White House Press Secretary Jen Psaki said US citizens will begin receiving a first round of direct deposits in their bank accounts by the weekend. Additionally, Biden gave a primetime address to discuss how the country will continue fighting COVID-19 after it was proclaimed as a pandemic by the World Health Organization the previous year. Biden and Vice President Kamala Harris are to travel Atlanta, Georgia and promote the legislation across the country on Friday.


Sources

Bookmark-new.svg