Home Politics Biden signs the stimulus bill, it’s time for Senate to vote

Biden signs the stimulus bill, it’s time for Senate to vote

American president Joe Biden has captured his first appealing victory in Congress. The House of Representatives voted by a majority on Wednesday in favour of the $ 1900 billion crisis support package after the Senate had already agreed to the plan. This leaves Biden only with the task of signing the law. That happens Friday.

The billions are intended to fund vaccines and medical devices, as well as emergency financial aid to victims who have lost their jobs, to businesses and to local governments. Biden must have signed by 14 March. On that date, the current unemployment scheme expires.

The first support cheques of $ 1,400 are expected to be available this month. According to the Democrats, the temporary extension of the tax credit for children by nearly $ 110 billion will help to halve child poverty. Tax credits for the unemployed and student debt relief will help millions more.

The proposal had already been approved by the House of Representatives, but because the Senate made some changes to the plan, the House of Commons had to vote again on the crisis support package. Among other things, a section on raising the minimum wage to $ 15 per hour was voted down.

Due to the imminent emergency support, several economists were already more positive about the growth of the US economy this year. The $ 1,400 support cheques don’t apply to the richest Americans. As more is earned, the amount of aid decreases. Americans who earn $ 80,000 or more a year are not entitled to additional financial support.

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