According to Tami Luhby and Katie Lobosco, of CNN, the democrats’ “rescue” package contains, “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.”
“These are key parts of a $1.9 trillion proposal that President-elect Joe Biden [Now President Joe Biden] unveiled.”
“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, which was scaled back to garner support from Senate Republicans.”
Those darn un-wasteful republicans!
“Now that Democrats control both chambers and the White House, 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.”
“Here’s what’s in the American Rescue Plan:”
“Beefed-up stimulus payments:”
“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.”
Where’s the beef?!
I thought we were talking about additional $2,000 payments?!
“The new payments would go to adult dependents that were left out of the earlier rounds, like some children over the age of 17. It would also include households with mixed immigration status, after the first round of $1,200 checks left out the spouses of undocumented immigrants who do not have Social Security Numbers.”
Anyway, that accounts for $350 billion of the stimulus package, or about 10% of the stimulus.
Enhanced unemployment aid:
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.
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.
Lawmakers only provided an additional 11 weeks of support in the December package, which will last until March.
They don’t actually cite the estimated cost of this, but let’s give them credit for another $100 billion.
We’re up to $450 billion now.
Rental assistance and eviction moratorium:
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.
Another $5 billion would be set aside to help struggling renters to pay their utility bills. Biden is also calling for $5 billion to help states and localities assist those at risk of experiencing homelessness.
The plan would extend the federal eviction moratorium, set to expire at the end of January, to September 30, as well as allow people with federally-guaranteed mortgages to apply for forbearance until September 30.
That’s another $35 billion.
We’re up to $485 billion now.
Help for the hungry:
Biden would extend the 15% increase in food stamp benefits through September, instead of having it expire in June. He would invest another $3 billion to help women, infants and children secure food, and give US territories $1 billion in nutrition assistance. And he would partner with restaurants to provide food to needy Americans and jobs to laid-off restaurant workers.
Let’s estimate another $5 billion here.
We’re up to $490 billion now.
More money for child care and child tax credits:
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.
It also proposes expanding the child care tax credit for one year so that families will get back as much as half of their spending on child care for children under age 13.
Let’s estimate another $50 billion here.
Now we’re up to $540 billion.
A temporary increase of tax credits:
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. The credit would also be made fully refundable.
And he proposes to raise the maximum Earned Income Tax Credit for a year to close to $1,500 for childless adults, increase the income limit for the credit to about $21,000 and expand the age range of eligibility to cover older workers.
Both of these are aimed at supporting low-income families, including millions of essential workers.
Let’s estimate another $10 billion here.
Now we’re up to $550 billion.
Subsidies for health insurance premiums:
Biden is also calling on Congress to subsidize through September the premiums of those who lost their work-based health insurance.
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.)
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.
Let’s estimate another $30 billion here.
Now we’re up to $580 billion.
Restoration of emergency paid leave:
The plan would reinstate the paid sick and family leave benefits that expired at the end of December until September 30.
It would extend the benefit to workers employed at businesses with more than 500 employees and less than 50, as well as federal workers who were excluded from the original program.
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.
What do you think? Let’s estimate another $5 billion here.
Now we’re up to $585 billion.
More assistance for small businesses:
The plan calls for providing $15 billion to create a new grant program for small business owners, separate from the existing Paycheck Protection Program.
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.
That’s another $50 billion here.
Now we’re up to $635 billion.
Aid for states and schools:
Biden also 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.
Asked during a call with reporters whether states could use the funds to offset declines in tax revenue spurred by the pandemic, a senior Biden administration official did not clarify. The aid is intended to be flexible, an official told CNN later.
“Flexible” means unaccountable in this case.
Biden’s plan would also give $20 billion to the hardest-hit public transit agencies to help avert layoffs and the cutting of routes.
That’s another $370 billion.
Now we’re up to $955 billion.
Increased support for vaccines and testing:
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. Biden would also increase federal support to vaccinate Medicaid enrollees.
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.
This school stuff seems a little redundant, but regardless, that’s another $70 billion.
Now we’re up to $1 trillion, 25 billion.
It would also fund the hiring of 100,000 public health workers, nearly tripling the community health workforce. It would address health disparities by expanding community health centers and health services on tribal lands. And it would provide support to long-term care facilities experiencing outbreaks and to prisons for mitigation strategies.
That’s roughly another $5 billion.
That brings us to a total of $1 trillion, 30 billion, or 54% of the stimulus package.
Hey, wait a minute!
What about the other 46%, or $870 billion?!
This would be OUR money being spent on things NOT related to COVID relief and “economic rescue” for the American people in one form or another.
I guess we’ll have to wait and see what was in the bill, now that they’ve passed it, to find out what this $870 billion is being spent on.
I’m sure there’ll be a whole other blog’s worth of democrat Nazism to comment about there.
As a blogger I’m excited.
As an American I’m disgusted.
If you’re not already “following” me and you liked my blog(s) today, please choose to “follow” me, which will keep you up to date on all of my latest posts, and/or leave me a comment. I value your feedback and I’d love to hear from you!
Thank you, MrEricksonRules.