Home / US / What’s in Biden’s $ 1.9 trillion stimulus plan?

What’s in Biden’s $ 1.9 trillion stimulus plan?

Research from the Congressional Budget Office in 2019 suggests that raising wages to $ 15 nationwide could increase wages for tens of millions of workers, even with some of the costs for jobs – perhaps 1.3 million. Who did not work in part because of the employer Will reduce the payroll

Biden’s plan will provide $ 440 billion in assistance to the community, according to the administration, in addition to funding for the school’s reopening. Relief plans bring billions of grants and loan programs for small businesses. (The way it works is not entirely clear) and $ 350 billion in emergency funding for state, local and county governments.

State and local governments posted overall lower incomes than previously expected. But the financial impact was uneven from the epidemic. They had a significant drop in their salaries, which was associated with the employment of about 13 percent of America’s workers.

Biden is seeking $ 160 billion in funding for a national vaccination program, additional testing, public health work programs and other steps to combat the virus, according to an executive summary.

The plan will invest $ 20 billion in a national vaccination program “in partnership with local states, tribes and territories” and will endeavors to ensure that people can get shots for free regardless of immigration status. 50 billion will lead to improvements to testing and $ 40 billion will be allocated for enhancement, protective equipment and consumables, deploying emergency response personnel and improving supply production.

Biden will renew the unpaid leave requirement that is not extended as part of the December package, while removing exemptions for large and small employers. The plan will allow 14 weeks of sick and family leave and medical expenses for caregivers dealing with closed schools or care centers, while providing $ 1,400 leave benefit to eligible workers.

State and local governments and employers with fewer than 500 employees receive reimbursement for their expenses through a refundable tax credit. The emergency leave requirements will be in effect until the end of September.

Source link