First, we state that this is a plan NOT a bill. This proposal can be used by Congress to write legislation, there is still room for change and we must advocate and lobby Congress to get this passed and to add the things we need to it. The full fact sheet is here.
The American Rescue plan has a $1.9 Trillion price tag and it includes:
Increasing the federal unemployment boost (FPUC) to $400/week
Extending the FPUC, as well as PUA and PEUC through the end of September. Will push for it to tier off with economic triggers.
Direct payments of $1,400 to most Americans, bringing the total direct aid check to $2,000 (added to December’s $600 payments). Adult dependents get this direct aid as well.
Reinstate, expand, and extend paid sick and family leave due to COVID.
$25 billion in rental relief (in addition to the $25B passed in December). Also $5B for home energy and water assistance and $5B emergency assistance for homeless.
Extending the eviction and foreclosure moratoriums through 9/21.
15% increase to SNAP benefits.
$3B investment in Special Supplemental Nutrition Program for Women, Infants, and Children.
Increasing the federal minimum wage to $15 per hour.
Healthcare subsidies for those who lost their jobs, with specific funds for veterans and mental health.
$170 billion for K-12 schools and public institutions including community colleges.
$35 billion for child care providers.
$350 billion in state and local government aid and $20B to tribal governments.
$15 billion in grants for small businesses and $35B in loans.
$20 billion for hard hit transit systems.
$50 billion toward COVID-19 testing.
$20 billion toward a national vaccine program in partnership with states, localities and tribes.
$15 billion in grants for small businesses and $35B in loans.
Significant expansion of the Child Tax Credit fully, increasing the credit to $3,000 per child ($3,600 for a child under age 6) and making it fully refundable for the year.
Raise the maximum Earned Income Tax Credit for a year to close to $1,500 for childless adults, increase the income limit for the credit to about $21,000 and expand the age range of eligibility to cover older workers.
In his evening speech Biden says his plan aims to pick 12M Americans out of poverty.
He says this is the first of a two step plan. He has a second financial package that he will announce after he's inaugurated called the Recovery.
Sources: CNBC, Washington Post, CNN, and Biden's speech.
We do not know details that have to do with implementation like 'when the $400 will start', etc. This is a plan, it is Biden's proposal, it will now serve as a framework for Congress to write legislation. All of us influence what is included in that legislation and whether it gets passed. Advocate for what you need from your US Senators and Representative. The bill meets answers much of our asks, but we will continue to advocate for a retroactivity solution. Read our Official Statement here. Sign the petition here. And follow us on social media for daily actions @ExtendPUA.
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