• D. Brit

Biden Signs $1.9 Trillion Covid Relief Bill Into Law

Updated: Mar 13


What Happened:

  • On Thursday, President Biden signed his $1.9 Trillion Covid-19 Relief Bill into law. The passage of the relief bill has Biden's primary legislative priority since taking office in January.

  • Said Biden, "This historic legislation is about rebuilding the backbone of this country and giving people in this nation, working people, middle class folks, people who built the country, a fighting chance."

  • The legislation includes additional stimulus checks of $1,400 per person for many Americans. Individuals who earn less than $75,000 a year and couples that earn less than $150,000 are eligible for the full checks. Qualifying families with children will also receive an additional $1,400 per dependent. The payments will phase out for those who earn higher incomes with a qualifying income cap of $200,000 for couples and $100,000 for individuals. The government says some Americans may receive their checks as soon as this weekend.

  • The unemployed will also receive a $300 weekly federal boost to unemployment benefits through Sept. 6. The first $10,200 of unemployment payments will also be tax-free for households with annual incomes of $150,000 or less.

  • The bill will also send $20 Billion to state and local governments to help low-income households cover back rent, rent assistance and utility bills. Another roughly $10 billion will be allocated to help struggling homeowners with their mortgage and property taxes.

  • Most families with children will also qualify for a larger child tax credit in 2021, receiving up to $3,600 credit for each child under 6 and $3,000 for each child under 18.

  • Aid for small businesses, food stamps and federal subsidies for health insurance are also a part of the bill.

  • The relief bill is meant to help steady the economy as it recovers from the pandemic-induced recession from last year. The latest economic reports are showing some positive indications that the economy may be on the road to recovery, albeit slowly.


Developing Story

Photo Source: whitehouse.gov


#newspura #justfactsnoopinions #congress #senate #biden #covid19 #coronavirus #covidreliefbill #house #news #breaking #breakingnews




5 views0 comments