[ad_1]
Image source,fake images
Post-Senate, the U.S. House of Representatives also approved a massive $ 1.9 trillion (1.9 trillion) bailout plan proposed by President Joe Biden on Wednesday (March 10) local time to help deal with with the new corona pandemic. After the Senate and House of Representatives passed it, Biden has indicated that he will sign the bill.
The “American Rescue Plan” (American Rescue Plan) is the largest rescue bill in the history of the United States, but no Republican congressman voted in favor. The bill passed with 220-211 votes.
The bill passed in the Senate and House of Representatives is a major legislative victory since Biden took office. But a Democratic congressman voted against it.
Image source,fake images
Some people say that the United States opened the money printing machine through this program.
White House spokeswoman Jen Psaki said Biden will sign the bill into law on Friday.
Biden said, “This bill is about giving the cornerstones of this country, the necessary industries, the working class people who build this country and the people who keep this country running, a fighting chance.”
Biden also said that after making sure Americans are immunized, the United States will share the remaining new coronavirus vaccines around the world.
Invoice content
The final version of the relief plan includes a one-time payment of $ 1,400, which will be allocated to most Americans. This subsidy is only for people with an annual income of less than US $ 750 million or couples with an annual income of less than US $ 150,000. Each child will receive an additional grant of US $ 1,400. Individuals or families whose income exceeds this amount will receive less subsidy.
Additionally, the weekly unemployment benefit of $ 300 runs through September 6.
Image source,fake images
Some American restaurants have begun to rehire employees.
The federal government will also allocate US $ 350 billion to state and local governments and US $ 130 billion to reopen schools. Expansion of $ 49 billion for Covid-19 testing and research and $ 14 billion for vaccine distribution
The relief plan also helps low-income and unemployed people pay rent and utilities. As for restaurants and other industries affected by the epidemic, it is expected to receive a grant of 25,000 million dollars. In addition, US $ 5 billion will be spent on airlines, US $ 8 billion on airports, etc.
It should be noted that the bill proposed to increase the national minimum wage from $ 7.25 to $ 15 an hour. This was the heart of the discussion and legislation in the Senate, and it was not included in the final version of the bill. . Previously, some Democrats also criticized certain provisions, leading to some compromises in the aid package, such as lowering the federal unemployment benefit from $ 400 a week to $ 300.
Pros and cons
Image source,fake images
Funding for individuals and families, as well as expanding vaccine distribution, is the focus of funding.
House Speaker Pelosi (Nancy Pelosi) said this bill is one of the most revolutionary and historically significant, because Biden’s American Rescue Act is about the education and health of children, as well as the economic security of their families.
But Kevin McCarthy, the minority leader of the House of Representatives, said the bill is neither a bailout law nor a bailout law. It’s “a lot of left-wing priority issues that existed long before the epidemic, and cannot be solved. The needs of American families.”
In response to the passage of the bailout bill, major US research organizations and institutions have reportedly also collected US economic data. The Organization for Economic Co-operation and Development (OECD) predicts that with this $ 1.9 trillion bailout, US industrial production will increase by 3-4%. Morgan Stanley will increase the US economic growth rate (GDP) in 2021 this month. from 6.5% to 7.3%.
- According to John·According to data from Hopkins University, the number of confirmed cases of the new corona virus in the United States is 28.7 million, almost double that in India (11 million) and Brazil (10.5 million), the second most high or tall.
- But in terms of the number of deaths per 100,000 people, the United States ranks ninth, less than countries like the United Kingdom and Italy.
- The University of Washington Health Assessment and Data Institute predicts that by the end of May, the virus will kill about 500 Americans every day, compared to 2,000 today.
- Since January, the hospitalization rate has dropped dramatically.
- The increasing number of new coronavirus variants may trigger a new wave of outbreaks, which remains a major concern.
analysis
BBC North America Correspondent Anthony Zurcher
Image source,EPA
Extending unemployment benefits through September is a respite for millions of long-term unemployed Americans.
Biden just won his first legislative victory. Now that the House of Representatives has approved the $ 190 million COVID-19 relief plan, the new administration will have huge funds to combat the economic and social consequences of the epidemic in the United States.
How Biden’s team effectively allocates the rescue plan will go a long way towards ensuring the success of his first term. Because if this record spending can promote economic development without overheating the economy, then Biden can score political points by revitalizing the country.
Also, because Democrats passed the bill without Republican approval. This can become an effective weapon in future elections.
However, the bill passed unilaterally by one party also paid a political price.
Now the Republicans are digging their trenches and preparing for future battles. In Biden’s inaugural address, he seemed to hold up the lofty goal of “a new era of bipartisan cooperation.” Also, due to the strategic use of the legislative voting process, Democrats can easily pass the bailout bill this time, but the Democratic Party still needs the support of some Republicans for future legislative priorities.
The huge aid bill has provided unprecedented support to low-income families in the United States, which is a great achievement. If the Democratic Party wants more such victories in the future, it still has a lot of work to do.
