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Thursday, March 11, 2021
Today, United States President Joe Biden signed the American Rescue Plan Act, a $1.9 trillion stimulus relief package that provides $1,400 in direct payments to individuals. The bill passed in the House with a 220-211 vote and in the Senate with a 50-49 vote along party lines through budget reconciliation.
The bill includes a $300 billion in unemployment benefits through September and expands the tax credit to $3,600. It provides $350 billion in aid to state governments and $14 billion for distributing vaccines. The bill offers a funding of $130 billion in schools and helps assist them with reopening safely. Small businesses will receive $50 billion, and the Paycheck Protection Program will receive $7 billion. Small and mid-sized restaurants, which have been hard hit by the COVID-19 pandemic, will receive $25 billion in relief.
Press Secretary Jen Psaki said that Americans will begin receive a first round of direct deposits in their bank accounts this weekend. Additionally, Biden has gave a prime address to discuss how the country will continue to fight COVID-19 a year after it was declared a pandemic by the World Health Organization. Biden and Vice President Kamala Harris are expected to travel to Atlanta as part of a tour to tout the legislation across the country.