STATEN ISLAND, N.Y. -- A massive relief package proposed by President-elect Joe Biden is expected to provide financial aid to families and businesses struggling through the ongoing coronavirus (COVID-19) pandemic while ramping up the nation’s vaccination efforts.
On Thursday, Biden unveiled the $1.9 trillion American Rescue Plan, a proposal that, if passed, would provide larger stimulus checks, an increased federal minimum wage, additional unemployment assistance, funding for state and local governments and enhanced vaccination efforts.
With Democrats now controlling the White House, as well as both chambers of Congress, federal lawmakers may be able to pass the proposed legislation more quickly than past relief bills, where partisan politics often held up the approval process.
Here’s a look at what’s included in the American Rescue Plan.
LARGER STIMULUS CHECKS
The proposed plans would provide a $1,400 stimulus check to all eligible Americans, in addition to the $600 received late last year, bringing the total relief payment to $2,000.
“An additional $1,400 per person in direct checks will help hard-hit households cover expenses, spend money at local businesses in their communities, and stimulate the economy,” according to the plan.
Eligibility for the stimulus checks would also be expanded to adult dependents and mixed status households, who may not have qualified for previous rounds of payments.
INCREASED FEDERAL MINIMUM WAGE
The proposed plan calls on Congress to raise the federal minimum wage to $15 an hour, allowing workers to better provide for their families.
“Hard working Americans deserve sufficient wages to put food on the table and keep a roof over their heads, without having to keep multiple jobs. But millions of working families are struggling to get by. This is why the president-elect is calling on Congress to raise the minimum wage to $15 per hour, and end the tipped minimum wage and sub-minimum wage for people with disabilities so that workers across the country can live a middle class life and provide opportunity for their families,” according to the plan.
UNEMPLOYMENT ASSISTANCE
The proposed plan calls for the extension of federal unemployment relief programs currently set to expire in mid-March.
Under the plan, the programs, which provide additional financial assistance to those out of work as a result of the pandemic, would be extended through September 2021.
The plan would also provide an additional $400-per-week unemployment benefit to help cover household expenses.
SMALL BUSINESS RELIEF
The proposed plan calls on the federal government to provide $15 billion in grants to more than a million of the country’s hardest hit small businesses.
Additionally, the proposal calls for the leveraging of $35 billion in government funding into $175 billion in additional small business lending and investment.
“In addition, the president-elect wants to work with Congress to make sure that restaurants, bars, and other businesses that have suffered disproportionately have sufficient support to bridge to the recovery, including through the Community Credit Corporation at the U.S. Department of Agriculture (USDA),” according to the plan.
COVID VACCINATION/TESTING FUNDING
The proposed plan commits $160 billion to create a national vaccination program, expand testing, mobilize a public health jobs program and take other necessary steps to fight the coronavirus.
Of the $160 billion committed to addressing the coronavirus, $20 billion would be invested in a national vaccine program, $50 billion would be invested in enhanced testing, $30 billion would be invested in the nation’s Disaster Relief Fund, $10 billion would be invested in the domestic production of pandemic supplies and $11 billion would go towards a global response to the pandemic.
Remaining funding will be used to set up a public health jobs program, address health disparities, protect vulnerable populations and research emerging strains of the virus.
EDUCATION FUNDING
The proposed plan commits $130 billion to safely reopen schools across the country with proper COVID precautions in place.
“These funds can be used to reduce class sizes and modify spaces so students and teachers can socially distance; improve ventilation; hire more janitors and implement mitigation measures; provide personal protective equipment; ensure every school has access to a nurse; increase transportation capacity to facilitate social distancing on the bus; hire counselors to support students as they transition back to the classroom; close the digital divide that is exacerbating inequities during the pandemic; provide summer school or other support for students that will help make up lost learning time this year; create and expand community schools; and cover other costs needed to support safely reopening and support students,” according to the plan.
The proposal would also commit $35 billion to expand the Higher Education Emergency Relief Fund, providing millions of college students additional financial aid through their university, and $5 billion for the Hardest Hit Education Fund, which supports student populations that have been hit disproportionately hard by the pandemic.
CHILD CARE
The proposed plan includes the formation of a $25 billion Emergency Stabilization Fund to help child care providers.
“It will help providers pay for rent, utilities, and payroll, as well as increased costs associated with the pandemic including personal protective equipment, ventilation supplies, smaller group sizes, and modifications to make the physical environment safer for children and workers,” according to the plan.
“It will also assist those that have had to shut down meet their financial obligations during the pandemic, so that they can reopen,” according to the plan.
The plan also calls for a $15 billion expansion of the Child Care and Development Block Grant program to help parents who are experiencing job loss and are struggling to provide child care.
Additionally, Biden is calling on Congress to increase child care tax credits for one year, allowing families to recoup up to 50% of money spent on child care for children under age 13.
FIGHTING HUNGER
The proposed plan includes an extension of the 15% Supplemental Nutrition Assistance Program (SNAP) benefit increase through September 2021.
“Maintaining the increase through the summer - when childhood hunger spikes due to a lack of school meals - is a critical backstop against rising food insecurity,” according to the plan.
The proposal also calls for a $3 billion, multiyear investment in the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC), as well as $1 billion in nutritional assistance for U.S. Territories, like Puerto Rico.
TRANSIT FUNDING
The proposed plan calls for $20 billion investment into the country’s hardest-hit public transit systems.
“This relief will keep agencies from laying off transit workers and cutting the routes that essential workers rely on every day, while making these transit systems more resilient and ensuring that communities of color maintain the access to opportunity that public transportation provides,” according to the plan.
On Thursday, MTA Chairman and CEO Pat Foye released a statement praising the proposed plan, which is expected to bring significant financial aid to the cash-strapped transit agency.
COMBATTING EVICTIONS AND FORECLOSURES
The proposed plan calls for an extension of the eviction and foreclosure moratoriums through September 2021.
“These measures will prevent untold economic hardship for homeowners, while limiting the spread of COVID-19 in our communities,” according to the plan.
The proposal also calls for a $30 billion investment in rental and critical energy and water assistance for hard-hit individuals and families, as well as a $5 billion investment in emergency assistance for those at risk of homelessness.
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January 17, 2021 at 02:50AM
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