Inside Biden’s $1.9 Trillion Stimulus Bill
Start right there with a pass of that. Covid stimulus bill in the senate on saturday night. I do need to preface this by saying it does have to pass the house again because there were some changes made by the senate so it's not passed into law just yet but we'll go for what this bill will include when it goes through the house and i'm going to try my best to sound like i'm not rattling off just a bunch of dollar amounts but there's a danger. It might sound like that but just bear with me. There might be something in there that would be useful for you. Your family someone. So for helping the unemployed it extends that three hundred dollars a week plus the state unemployment end it makes the first ten thousand two hundred dollars of that non taxable for households making less than a hundred and fifty thousand dollars it also fully funds cobra. Health insurance premiums so that employees who have been laid off can remain on their employer plan for free. There's also going to be another round of checks fourteen hundred dollars for a single taxpayer. Twenty eight hundred couples indy. Get fourteen hundred dollars per dependent now the starts to taper off at seventy five thousand for individuals or one hundred and fifty thousand dollars for couples ended completely gets phased out at eighty thousand dollars for a single tax payer and one hundred and sixty thousand dollars for a couple it gives state and local governments three hundred fifty billion dollars to cover expenses related to covid through twenty twenty four gives schools one hundred and thirty billion for k. Through twelve in forty billion dollars for colleges and that's to help them reopen safely so parents can get back to work for businesses. they'll be twenty five billion dollars going to restaurants and bars. This max out at ten million dollars per company in five million dollars per location additionally there will be seven point two five billion for the paycheck protection program once again forty. Six billion dollars will be going to state local and federal governments to help with testing and contact tracing as well as fourteen billion dollars to help speed up. The vaccine distribution for healthcare there will be financial assistance for aca affordable care act premiums and this is just looking to get the number of people covered by insurance to increase into further incentivize. The south to expand medicaid since they're sort of the holdouts town there. The republicans are blocking that there are also increases in tax breaks to parents who have kids up to three thousand dollars per kid if their age six to seventeen and thirty six hundred dollars per kid if they're under six years old and that spread out over the twelve months according to analysis this plus the fourteen hundred dollar check would cut the number of kids in poverty by more than half. In addition there's changes to the earned income tax credit for this year in extends to people without children. And if you're looking for how much that would be for low to moderate income folks. It'll be somewhere between five hundred and forty three dollars in one thousand five hundred and two dollars. Lastly in the rental and homeowner category it gives thirty billion dollars to help low income and unemployed folks afford rent and utilities and at the state level states and tribes get ten billion dollars per homeowners. So all in all. I think thing that really struck me. Was this tweet that i saw saying that. Isn't it kind of crazy. That biden asked for a one point nine trillion dollar stimulus deal and he got a one point nine trillion dollar stimulus deal like i think that makes biden a pretty good politician. One of the main criticisms of obama was at he started out by compromising with republicans and gave them the compromise offer in the first place instead of starting out high. You can't say that for biden so far in this could be a sign of good things to come but like. I said they're hoping that this gets signed into law by the end of the week after the house passes it sometime this week.