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WASHINGTON (AP) – The Senate approved On Saturday, a massive pandemic relief program against the Republican opposition, bringing President Joe Biden one step closer to a landmark political victory that would deliver 1,400 checks for most of the United States and direct billions of dollars to schools, state and local governments and businesses.
The bill was approved by a 50-49 party line vote after an overnight marathon voting session and is now returning to the House for final passage, which could take place early next week.
Democrats have said their “US bailout” will help the country beat the virus and get the economy back on track. Republicans criticized the $ 1.9 trillion package as more expensive than necessary. The measure follows five previous virus bills totaling around $ 4 trillion that Congress has enacted since last spring.
An overview of some highlights of the legislation:
UNEMPLOYMENT ASSISTANCE
The increased unemployment benefits from the federal government would be extended until September 6 to $ 300 per week. This is on top of what beneficiaries get through their public unemployment insurance program. The first $ 10,200 of jobless benefits would be tax-free for households with incomes below $ 150,000.
In addition, the measures provide a 100% subsidy of COBRA health insurance premiums to ensure that laid-off workers can stay on their employer health plans at no cost until the end of September.
MORE CHECKS
The law provides for a direct payment of $ 1,400 for a single taxpayer or $ 2,800 for a married couple filing jointly, plus $ 1,400 per dependent. People earning up to $ 75,000 would receive the full amount, as would married couples with incomes of up to $ 150,000.
The amount of the check would decrease for those who earn a little more, with an absolute limit of $ 80,000 for individuals and $ 160,000 for married couples.
Most Americans will receive the full amount. Median household income was $ 68,703 in 2019, according to the US Census Bureau.
MONEY FOR STATE AND LOCAL GOVERNMENTS
The legislation would send $ 350 billion to state and local governments and tribal governments for costs incurred through the end of 2024. The bill also requires small states to receive at least the amount they received under. virus legislation passed by Congress last March.
Many communities have hit their tax bases during the pandemic, but the impact varies from state to state and city to city. Critics say the funding is not properly targeted and is far more than needed with billions of dollars allocated last spring to states and communities still unspent.
HELP FOR SCHOOLS
The bill provides approximately $ 130 billion in additional assistance to schools for kindergarten to grade 12 students. The money would be used to reduce class sizes and modify classrooms to improve social distancing, install ventilation systems and purchase personal protective equipment. The money could also be used to increase the hiring of nurses and counselors and to offer summer courses.
Spending for colleges and universities would be increased by around $ 40 billion, with money used to cover an institution’s pandemic-related expenses and to provide emergency assistance to students to cover expenses such as food , housing and computer equipment.
BUSINESS ASSISTANCE
A new program for restaurants and bars affected by the pandemic would receive $ 25 billion. Grants provide up to $ 10 million per business with a limit of $ 5 million per physical location. Grants can be used to cover payroll, rent, utilities, and other operational expenses.
The bill also provides $ 7.25 billion for the paycheck protection program, a tiny fraction of what was allocated in previous legislation. The bill also allows more nonprofits to apply for loans designed to help borrowers meet their payroll and operating costs and which may eventually be waived.
TESTS AND VACCINES
The bill provides $ 46 billion to expand federal, state and local testing for COVID-19 and to improve contract tracing capabilities with new investments to expand lab capacity and set up mobile testing units . It also contains around $ 14 billion to accelerate the distribution and administration of COVID-19 vaccines across the country.
HEALTH CARE
Parts of the legislation advance long-standing democratic priorities, such as increasing coverage under the Obama-era Affordable Care Act. Financial assistance for ACA premiums would become considerably more generous and more strong middle-class households would qualify. While the softened grants only last until the end of 2022, they will lower the cost of coverage and are expected to increase the number of people enrolled.
The measure also puts more money ahead of a dozen states, mostly in the South, that have yet to resume the expansion of Medicaid that is available under the ACA to cover more low-income adults. returned. It’s unclear whether such a sweetener would be enough to begin to exhaust long-standing Republican opposition to the expansion of Medicaid.
GREATER TAX BREAKS FOR HOUSEHOLDS WITH AND WITHOUT CHILDREN
Under current law, most taxpayers can reduce their federal income tax bill by up to $ 2,000 per child. In a significant change, the bill would increase tax relief to $ 3,000 for every child aged 6 to 17 and to $ 3,600 for every child under age 6.
The law also requires that payments be made monthly rather than as a lump sum. If the Secretary of the Treasury judges this to be impractical, payments should be made as often as possible.
Families would get all the credit no matter how little they earn in a year, which has led to criticism that the changes have a chilling effect on work. Add the $ 1,400 checks and other items to the proposal, and the legislation would more than halve the number of children living in poverty, according to Columbia University’s Center on Poverty and Social Policy.
The bill also significantly expands the earned income tax credit for 2021 by making it accessible to people without children. The credit for low- and moderate-income adults would be worth $ 543 to $ 1,502, depending on income and deposit status.
RENTAL AND ASSISTANCE TO OWNERS
The bill provides about $ 30 billion to help low-income households and the unemployed pay rent and utilities, and to help the homeless with vouchers and other aids. States and tribes would receive an additional $ 10 billion for homeowners who are struggling with mortgage payments due to the pandemic.
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