Share to Twitter Share to Linkedin The House has formally approved President Biden's massive $1.9 trillion stimulus package, dubbed the "American Rescue Plan," designed to buttress the economy in response to the continuing pandemic and economic downturn. The legislation contains hundreds of billions of dollars in aid, including the following: $1,400 direct payments to Americans earning up to $75,000 (or married couples earning up to $150,000). This is on top of $600 direct payments already authorized by a previous stimulus package passed in December. $400 weekly supplement federal unemployment insurance and extension of the program into the summer (currently, extended unemployment benefits expire in March). A new child tax credit resulting in cash payments to families of up to $3,600 per year. $70 billion for national COVID-19 vaccination and testing programs. $350 billion for state, local and tribal government relief. $7 billion for the Paycheck Protection Program, which provides forgivable loans to small businesses. The bill also includes an increase in the minimum wage to $15 per hour. That provision remains in doubt once the bill gets to the Senate. Earlier this week, the Senate parliamentarian ruled that a minimum wage increase cannot be included in a budget reconciliation measure… Read full this story
- Congress Advances Stimulus: What It Means For Student Loan Borrowers
- Biden Makes It Easier For Student Loan Borrowers To Get A Mortgage
- Biden May Extend Pause On Student Loans Beyond September 30—But Don’t Count On It
- Biden Cancels $1 Billion Of Student Loans
- Most Navient Student Loan Borrowers Who Paid Student Loans During Covid-19 Pandemic Are “Underwater”
- Trump And Biden Cancelled $90 Billion In Student Loan Interest Using Executive Action — Can Biden Do More?
- Biden Administration Starts Overhaul Of Student Loan Forgiveness, Income Based Repayment Programs
- Next Step For Student Loans Not Only About Biden’s Legal Ability For Student Loan Cancellation
- Biden Again Tries To Link Student Loan Cancellation To The Ivy League — Ignoring Key Facts
House Passes Biden’s Massive Stimulus Bill: What It Means For Schools, Student Loan Borrowers have 307 words, post on www.forbes.com at February 27, 2021. This is cached page on xBlogs. If you want remove this page, please contact us.