Under current law, most taxpayers can reduce their federal income tax bill by up to $2,000 per child. Bigger tax breaks for households with and without kids More than $14 billion is directed toward increased support for the Department of Veterans Affairs. The bill would also provide abut $3 billion for states to help address mental health and substance use disorders, which have been exacerbated by the pandemic. Whether such a sweetener would be enough to start wearing down longstanding Republican opposition to Medicaid expansion is uncertain. The measure also dangles more money in front of a dozen states, mainly in the South, that have not yet taken up the Medicaid expansion that is available under the ACA to cover more low-income adults. Though the sweetened subsidies last only through the end of 2022, they will lower the cost of coverage and are expected to boost the number of people enrolled. Financial assistance for ACA premiums would become considerably more generous and a greater number of solid middle-class households would qualify. Parts of the legislation advance longstanding Democratic priorities like increasing coverage under the Obama-era Affordable Care Act. And $10 billion would be used to boost the supply of medical devices and equipment to combat the virus under the Defense Production Act. Another $1 billion would go to boost vaccine confidence. It also contains more than $15 billion to speed up the distribution and administration of COVID-19 vaccines across the country. ![]() The bill provides about $50 billion to expand testing for COVID-19 and to enhance contract tracing capabilities with new investments to expand laboratory capacity and set up mobile testing units. The bill also allows more nonprofits to apply for loans that are designed to help borrowers meet their payroll and operating costs and can potentially be forgiven. The bill also provides $7.25 billion for the Paycheck Protection Program, a tiny fraction of what was allocated in previous legislation. ![]() The grants can be used to cover payroll, rent, utilities and other operational expenses. The grants provide up to $10 million per company with a limit of $5 million per physical location. Aid to businessesĪ new program for restaurants and bars hurt by the pandemic would receive $28.6 billion. Spending for colleges and universities would be boosted by about $40 billion, with the money used to defray an institution's pandemic-related expenses and to provide emergency aid to students to cover expenses such as food and housing and computer equipment. The money could also be used to hire more nurses, counselors and janitors, and to provide summer school. The money would be used to reduce class sizes and modify classrooms to enhance social distancing, install ventilation systems and purchase personal protective equipment. The bill calls for about $130 billion in additional help to schools for students in kindergarten through 12th grade. Critics say the funding is not appropriately targeted and is far more than necessary with billions of dollars allocated last spring to states and communities still unspent. ![]() Many communities have taken hits to their tax base during the pandemic, but the impact varies from state to state and from town to town. The measure follows five earlier virus bills totaling about $4 trillion that Congress has enacted since last spring. Republicans criticized the $1.9 trillion package as more expensive than necessary and they complain it inflates the national debt and sends money to projects not directly tied to the pandemic. The milestone political victory provides $1,400 checks for most Americans and directs billions of dollars to schools, state and local governments and businesses.ĭemocrats said the American Rescue Plan would help the country defeat the virus and nurse the economy back to health. WASHINGTON - President Joe Biden signed into law Thursday a sweeping COVID pandemic relief package over congressional Republican opposition. ![]() The House of Representatives voted Wednesday to approve the $1.9 trillion COVID relief plan, paving the way for President Joe Biden to sign his top legislative priority into law.
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