According to NPR, both House Minority Leader Kevin McCarthy and Senate Minority Leader Mitch McConnell have labeled the bill a Democratic “wish list.” Senate approved 50-49 party-line vote. No GOP member of the House voted to pass the bill, but one Democrat crossed party lines.
You’ve probably heard about the $1,400 stimulus checks (for people making less than $75,000 annually and married couples making less than $150,000). But what else adds up to $1.9 trillion? It’s impossible to recount the entire plan as it’s about 600 pages long, but here are a few highlights — all data provided from NPR.
Where some of the funds are going:
- $2 billion: buying and distributing various testing supplies and personal protective equipment
- $4.5 billion: for the Low Income Home Energy Assistance Program to help people with heating and cooling
- $7.25 billion: small-business loan program (PPP)
- $7.5 billion: for the Center for Disease Control and Prevention (CDC) to track, administer and distribute COVID-19 vaccines
- $25 billion: emergency rental assistance
- $25 billion: to the Small Business Administration for a new grant program for “restaurants and other food and drinking establishments”
- $39 billion: grants to higher education institutions
- $46 billion: diagnosing and tracing coronavirus infections
- $128 billion: to state educational agencies, with 90% allocated to local educational agencies
The bill also includes a higher tax credit for children and $300/week unemployment checks. What we don’t see in this plan is a $15 minimum wage, as this part got cut at the Senate. What do you think of the American Rescue Plan?