President Biden signed the $1.9 trillion COVID 19 relief package.
President Biden signed the COVID 19 relief package, his rescue strategy for the country. It contains $1400 stimulus checks.
The extensive $1.9 trillion COVID 19 relief package has something for every single American. From people who lost their jobs during the pandemic to struggling businesses, the helping hand is there for everyone. But the greatest winners here are struggling American families.
The $1.9 Trillion Bill Is A Boost To The Struggling Americans!
The bill offers then numerous opportunities to get on track. The provision that has received widespread attention is the extensive tax credit. The package also offers funding for re-opening schools, child care and remote learning mechanisms.
These are just a few of the pillars of support for children. According to experts in the field, the bill is a game changer. The most popular provisions of the bill are as follows:
- The long-term unemployment benefits
- $1400 direct payment to adults and to their every child
- Healthcare subsidies
- Emergency rental assistance
According to observers, Democrats even took the extra effort to assist children in low-income families, especially the ones that the pandemic affected the most.
The bill increases tax credit for child care from $2000 to 3000. And for children below the age of 6, it is $3600. The benefit starts with people whose annual income is more than $75000 or married couples earning $150000 filing jointly. The great thing about the package is that the credit is refundable. It implies that even low-income families are entitled for the allowance in full. The measure, according to experts, will help at least 10000000 children under or close to the poverty line.
In the meantime, the child and dependent care tax credit is increased from $2100 to $4000 for one child. It is $8000 for those having two or more children. This too is completely refundable allowing low-income families to have the full allowance. Families earning as much as $125,000 are eligible for the benefit. But there is a $15000 cap. The measure is meant as a temporary mechanism. But Democrats are planning to make it permanent, observers report.
The bill also offers other family-focused allowances such as:
- $125 billion to re-open schools, to help them maintain social distance and to catch up with classes. It will also act as a protective cushion against local or State cuts in expenses.
- $39 billion for child care expenses; $24 billion to support low-income child caregivers to buy personal protective equipment, to pay mortgage and for other things. There is another $15 billion will reduce child-care expenses for deserving families. This, according to experts, will help almost 875,000 children.
- Almost 12000000 children attending public schools live in families that cannot afford an Internet connection or a remote learning system. The package offers $17000000000 to Federal Communications Commission. This is to help them see to it that schools and libraries are equipped to enable children participate in remote learning.
- $40000000000 is set aside for colleges and universities. This to offer students grants and other assistance to take care of housing, healthcare and other expenses.
- The bill envisions a meal voucher program for almost 22000000 children all through the summer. This will be offered to schools that remain closed.
It is understood that families experience much stress during this period. Thus the bill sets aside $350000000 for community-based programs to eliminate child abuse. Services that are addressed to domestic violence too will benefit from it.
The bill, according to experts, will skyrocket the country’s increasing debts. But it is the need of the hour. For many, this is a measure meant to transform the lives of millions.