The enormous stimulus package of $1.9 trillion was approved by Congress in March 2021. Americans are not receiving much-needed relief money. The Rescue Plan for the citizens of the US included stimulus checks worth $1,400 along with $300 unemployment benefits. Joe Biden, US President, is now looking towards another stimulus bill.
Biden wants to provide additional stimulus packages to Americans this year that are intended to boost their economy and reduce poverty.
Additional Stimulus Bill
Biden is now making a Jobs Plan for US citizens and if it is approved, it will pump over $2 trillion into the nation’s economy and generate jobs. This new stimulus bill will solely focus on the important sector of the US infrastructure.
Another stimulus bill is named for the Family Plan that might allot $1 trillion more for American families and individuals. So far, the plans are thus far and Biden has also planned better tax credit for children, eliminating student debt, and health care expenses under the March stimulus package.
The Families Plan might not be approved for some months now however citizens are hopeful. Meanwhile, Biden along with Congress are creating the Jobs Plan that will invest $2 trillion for producing and upgrading transportation and roads. It will also improve the power grid, support EV cars, expand housing, and high-speed broadband in rural areas.
The 3rd stimulus package is likely to include tax credits of $500 billion and spending worth $1 trillion. The tax credit is most likely to be extended till 2025. Biden is also planning to make the first 2 years in community college completely free.
Families Plan also intends to make pre-K education free. Medical leave might also be paid for twelve weeks.