A group of 10 Democratic senators (PDF) is already urging President Joe Biden to include more money for direct stimulus payments in the next spending bill, the Washington Post reported – and on a recurring basis as well. “As you prepare your Build Back Better plan for long-term economic recovery,” the senators wrote in a March letter to Biden, “know that we are willing to work with you to support recurring direct checks.”
A year after the COVID-19 economic crisis, as many as 20 million Americans are out of work, and the workers with the lowest wages are the hardest hit by the pandemic. Although it is unclear where the economy is headedComplete, we offer some options from Congress if the economy continues to stumble or grow unevenly. To learn more about incentive payments, here’s everything you need to know about the , when and This story is regularly updated.
A new incentive bill is coming – could there be another check in it?
The just passedis the first spending package in 2021, with and an extensive drawn up. Biden’s administration is already working on a sequel, a package the president refers to as the Build Back Better plan. That proposal aims to invest in the country’s energy grid, transportation, broadband, and water systems, and may not include incentive controls – despite insistence from progressive senators (pdf), including Elizabeth Warren and Bernie Sanders.
(Note: There is some debate as to what counts as an ‘relief’, ‘rescue’ or ‘incentive package’. For the purposes of this article, ‘incentive’ refers to any funding, control or measure in response to the coronavirus pandemic or to injecting money into the US economy.)
A future ‘stimulus check’ could come in a different form
Thedoes not allow just one check. It actually includes three direct payments designed to help people and families in difficulty. It is possible that a future account could expand or introduce more money through direct checks that go to specific groups of recipients, including parents earning below a certain income or those out of work.
Here are the three forms of direct controls in the March 2021 bill:
Stimulus Controls: The new one-offsend until to those
Child tax credit: An extension of thesends eligible families $ 3,600 for each child under 6 and $ 3,000 for children 6 or older, in recurring payments through the end of the year.
Federal unemployment premium: A monthlyships until September 6 for up to $ 300 per month, in addition to state benefits for unemployed workers.
More ways Congress can send money this year
Recurring PaymentsBiden’s Infrastructure Act is the next likely place for Congress to provide more funding. This is where Democratic Senators are calling on Biden to push for recurring stimulus checks during the pandemic.
Minimum wage increase: Senate Democrats yanked a provision at the last minuteto raise the federal minimum wage, which currently stands at $ 7.25 an hour, over a number of years. But advocates will try to include the $ 15 hourly wage increase in another bill. “If a senator believes this is the last time they will vote on whether or not to give a raise to 32 million Americans, they are seriously mistaken,” Sanders tweeted on March 5. , and we will get it done because it is what the American people want and need. “
Extension of the child tax credit after 2021: The new bill is expanding, sending periodic payments to lower- and middle-income families with children, but not until the end of 2021. According to White House press officer Jen Psaki, Biden wants to make the Child Tax Credit permanent. Others, including Republican Senator Mitt Romney, also support making the credit permanent as it will lift millions of children in the US out of poverty.
Renew federal unemployment benefits after September: Along with recurring payments, the 10
Democratic senators, in their letter to Biden, called for federal unemployment support to be extended beyond September as well. “We urge you to … include automatic unemployment insurance renewals related to economic conditions in your Build Back Better long-term economic plan,” they wrote.
For more information, be here, how much money you can expect and how
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