Showing posts with label BIDEN COVID STIMULUS PLAN. Show all posts
Showing posts with label BIDEN COVID STIMULUS PLAN. Show all posts

March 7, 2021

Senate Passes $1.9 Trillion Coronavirus Relief Package

 NPR

President Biden speaks at the White House 

Evan Vucci/AP

The Senate approved President Biden's $1.9 trillion coronavirus relief plan Saturday, securing additional aid for American families, workers and businesses — and a legislative victory for the Biden administration.

After more than 24 hours of debate, the evenly divided Senate voted 50-49 to approve the measure. Republican Sen. Dan Sullivan of Alaska was absent because he was in Alaska for a family funeral.

The package delivers a new round of financial assistance to Americans grappling with the impact of the pandemic, including $1,400 direct payments, an extension of supplemental unemployment benefits and an increase to the child tax credit.

Individuals earning up to $75,000 and couples earning up to $150,000 would receive the full direct payments of $1,400 per person. But those payments would phase out for individuals and couples who make more than $80,000 and $160,000, respectively.

The income cutoff was lowered after moderate Democrats demanded that the latest round of checks target lower-income families.

Federal unemployment benefits would be extended through Sept. 6 at the current rate of $300 per week and the first $10,200 of those benefits would be tax-free for households that earn $150,000 or less.

Democrats were under pressure to get the bill to Biden's desk before current federal unemployment benefits expire on March 14. The budget reconciliation process allowed them to act without Republican backing, requiring only a simple majority to pass the bill.

Senate Majority Leader Chuck Schumer, D-N.Y., signaled Tuesday that Democrats had the support they needed to move forward with the vote. But debate on the Senate floor was delayed when Sen. Ron Johnson, R-Wis., indicated Wednesday that he'd require Senate clerks to read the more than 600 page bill on the floor, pushing the vote by several hours.

"We need to highlight the abuse," Johnson said in a Tweet. "This is not a COVID relief bill. It's a boondoggle for Democrats."

Senate Minority Leader Mitch McConnell, R-Ky., on Tuesday accused the Biden administration of trying to "jam" Republicans on the legislation.

"It is my hope that in the end Senate Republicans will unanimously oppose it, just like House Republicans did," McConnell said to reporters.

House Democrats' version of the bill originally included a provision to raise the minimum wage to $15 by 2025, but the Senate parliamentarian decided the provision did not fit the rules that govern budget bills in the Senate.

The House will need to revote on the final version of the bill before it can be signed into law. House Majority Leader Steny Hoyer, D-Md., said in a statement Saturday that the House will vote on an identical measure on Tuesday.

February 27, 2021

House Passes $1.9 Trillion COVID-19 Plan;

 NPR

Speaker of the House Rep. Nancy Pelosi (D-CA) speaks at a weekly news conference at the U.S. Capitol on February 18, 2021 in Washington, DC.

House lawmakers on Friday approved President Biden's $1.9 trillion coronavirus relief package, advancing the legislation to the Senate.

The vote came days after the United States surpassed 500,000 deaths from COVID-19.

The proposal would provide a new round of financial support for workers, families and businesses, including direct payments of up to $1,400 for eligible individuals and couples, an expansion and extension of supplemental unemployment benefits, and an increase to the child tax credit.

Also in the bill is $25 billion for emergency rental assistance and an expanded tax credit for low-income workers without children.

Speaking from the Roosevelt Room in the White House on Saturday, Biden thanked Speaker Nancy Pelosi, D-Calif., and the bill's supporters for taking "the first step" toward making another round of pandemic relief reality. He said he now hopes for "quick action" from the Senate.

"If we act now decisively, quickly and boldly, we can finally get ahead of this virus," Biden said. "We can finally get our economy moving again ... The people of this country have suffered far too much for too long. We need to relieve that suffering."

The Senate will have just over two weeks to make changes to the bill before current federal unemployment benefits expire on March 14. No Republicans in the Senate are expected to support the legislation, having balked at the price tag.

"We already know what is the best stimulus plan out there," House Minority Leader Kevin McCarthy, R-Calif., said at a press conference Friday. "It's to fully reopen our economy. To do that, we need our economy to go back to work, back to school and back to health."

While the budget reconciliation process enables Senate Democrats to approve the package without Republican backing, the Democratic caucus will need support from all 50 of its members to deliver on the Biden administration's first major legislative priority.

"I know some in Congress think we've already done enough to deal with the crisis in the country," Biden said when he announced the plan at the White House earlier this month. "That's not what I see. I see enormous pain in this country."

In addition to financial assistance for individuals and families, the bill would also direct relief to businesses. That includes $25 billion to the Small Business Administration for a new grant program that targets bars and restaurants and additional funding for a program that assists shuttered venues.

The package is also expected to set aside more than $128 billion in grants to help K-12 schools reopen and $39 billion for higher education institutions.

Previously, the bill had included a provision that would gradually increase the federal minimum wage to $15 an hour by 2025. But on Thursday evening, the nonpartisan Senate parliamentarian ruled that including this provision violated budgetary rules. While the ruling disappointed some progressives, the decision spared Democrats in the Senate from internal conflict over whether a $15 minimum wage is too high.

Biden said he was also disappointed but respected the parliamentarian's decision and urged Congress to quickly pass the relief package.

February 24, 2021

Here's What's In House Democrats' $1.9 Trillion COVID-19 Relief Plan

 NPR

WASHINGTON, DC - FEBRUARY 26: House Nancy Pelosi (D-CA) speaks during a news conference about COVID-19 relief legislation on February 26, 2021 in Washington, DC.

The House Budget Committee has approved legislation advancing President Biden's $1.9 trillion coronavirus relief package, setting a path for intense debate in the Senate.

The legislation is set for a vote on the House floor at the end of the week. The Senate is then expected to take up the legislation and attempt to modify it to ensure it can pass procedural hurdles while still satisfying all 50 Senate Democrats.

Republicans have generally rejected the need for such a sweeping relief package. Many, including Senate Minority Leader Mitch McConnell, R-Ky., say Congress should wait to see the economic impact of the relief measures that were approved in December. Democrats, including Biden, have insisted that more relief is needed now, particularly for lower-wage workers and people who have been unable to find new jobs in the pandemic.

White House press secretary Jen Psaki has told reporters that the legislation is aimed at helping people who are most at risk as the economy remains frozen by the virus.

But Senate Democrats remain split over some key elements, like a plan to increase the federal minimum wage to $15 over the next four years. Leaders are focused on working out any differences among Democrats before March 14, when current federal unemployment benefits are scheduled to expire.

Here's a look at some of the more closely watched elements of the legislation.

Minimum wage: Progressives are pushing for an increase to the minimum wage, boosting it to $15 an hour by 2025.

Over the weekend, Sen. Bernie Sanders, who chairs the Senate Budget Committee, told CNN he was "confident" the Senate parliamentarian would determine that including such a measure falls within the strict rules of reconciliation.

Biden has said he supports increasing the minimum wage, but is doubtful it can be passed through the Senate reconciliation process that only needs 51 votes.

But even if the parliamentarian rules that the measure can be included, there are two moderate Democrat senators who will likely push back: Joe Manchin of West Virginia and Kyrsten Sinema of Arizona.

Another round of stimulus checks: The latest round of direct payments would send $1,400 per person for people earning up to $75,000 and couples earning $150,000. The payments would be reduced for individuals earning over that amount but under $100,000 or more per year. The legislation also includes an additional $1,400 per dependent regardless of age.

Rental assistance: $25 billion for emergency rental assistance, including $5 billion for emergency housing vouchers for people experiencing homelessness, along with survivors of domestic violence and victims of human trafficking.

Pandemic supplies: $10 billion for Defense Production Act spending to offset shortages of medical supplies and equipment.

Expanded and extended federal unemployment benefits: The additional federal unemployment benefits that most people who have lost jobs are currently receiving would be increased from $300 per week to $400 per week and extended through the end of August.

New financial support for parents: Democrats approved a major temporary overhaul to the child tax credit that could mean most families with children would receive monthly payments if the bill becomes law. The legislation increases the existing child tax credit to $3,000 for children 6 to 17 and $3,600 for children under 6. The amount is gradually reduced for couples earning over $150,000 and individuals earning over $75,000 per year. Families eligible for the full credit would get payments of $300 per child, per month, from July 2021 through the end of the year.

Expanded tax credits for low-income workers without children: The bill would expand the Earned Income Tax Credit for childless workers. Anyone 19 or older earning up to $11,610 would be eligible for $1,502. The legislation would increase both the income threshold and the amount of the payment.

Changes to Paycheck Protection Program: The bill includes $7.25 billion in new money for the PPP program and would allow more nonprofits to apply, including those groups that engage in advocacy and some limited lobbying. It also allows larger nonprofits to be eligible.

Relief for restaurants and bars: The Small Business Administration would get $25 billion for a new grant program for "restaurants and other food and drinking establishments." Grants would be available up to $10 million per entity and $5 million per physical location with a maximum of 20 locations. The legislation sets aside $5 billion of the total money to be targeted to businesses with less than $500,000 in revenue in 2019.

Grants for venues: The bill includes another $1.25 billion for the Small Business Administration's Shuttered Venue Operators Grant Program.

Public health: $7.5 billion in funding for the Centers for Disease Control and Prevention to track, administer and distribute the COVID-19 vaccines. Also included is $1 billion to educate the public on the vaccine in order to boost confidence in it. Forty-six billion dollars will go toward diagnosing and tracing COVID-19 infections. Nearly $2 billion would go toward buying and distributing various testing supplies and PPE.

Elementary and secondary schools: Over $128 billion in grants to state educational agencies, with 90% allocated to local educational agencies.

Higher education: $39 billion in grants to higher education institutions. Public and private nonprofit institutions receiving relief will be required to spend at least half of the funds on emergency financial aid grants to students.

Child care and early childhood education funding: Nearly $15 billion in funds for the Child Care and Development Block Grant program to help support child-care facilities, particularly in high-need areas. There's an additional $1 billion to the Head Start Program.

Support for low-income families: $4.5 billion for the Low Income Home Energy Assistance Program to help families with home heating and cooling costs. One provision would give the secretary of agriculture the authority and funding to temporarily boost the value of cash vouchers for the Special Supplemental Nutrition Program for Women, Infants and Children (WIC) up to $35 per month for women and children for a four-month period during the pandemic.

Support for older Americans: $1.4 billion in funding for programs authorized under the Older Americans Act, including support for nutrition programs, community-based support programs and the National Family Caregiver Support Program.

Food security: Maintains the 15% increase in Supplemental Nutrition Assistance Program benefits through Sept. 30, 2021. Allocates $25 million to promote technological improvements to modernize the program. $37 million to be provided to the Commodity Supplemental Food Program for low-income seniors.

Transportation: $30 billion for transit costs, including payroll and PPE. $8 billion for airports, $3 billion for temporary payroll support program to help support the aerospace manufacturing industry and $1.5 billion to recall and pay Amtrak employees who were furloughed because of the pandemic and to restore various daily routes. $15 billion would also be allocated to support workers in the airline industry.

FEMA disaster relief: $50 billion for reimbursement to state, local, tribal and territorial governments.