It is rumored that JOE Biden is developing new stimulus plans that would allow millions of Americans to ask for even more money when the country recovers from the pandemic.
As part of his bailout, the president could set aside trillions more dollars to help individuals and families. Here’s everything we know so far about the new plans.
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The president develops new stimulus plansCredit: Splash
Will there be a fourth round of stimulus checks?
Although no official plan has been announced, Progressives are pushing Biden to introduce even more stimulus checks.
Biden has proposed a planned $ 7 trillion long-term infrastructure plan – called the Build Back Better Plan.
About 10 progressive senators – including Bernie Sanders – urged Biden in March to include more and “recurring” direct payments.
A similar request was made last month by 21 other lawmakers, led by Senator Ron Wyden.
In the past few months, the U.S. government has been issuing waves of money under a $ 1.9 trillion package that Congress approved in March.
To date, three waves of the $ 1,400 worth of stimulus checks have been processed and paid out to millions of Americans.
The program aims to alleviate the economic difficulties caused by Covid 19 and increase purchasing power.
Given the ongoing pressure on the president over the effects of the Covid pandemic, two new stimulus packages are already being prepared – the American employment plan and the American family plan.
This means that with targeted payments to specific groups, e.g. B. unemployed or parents who earn below a certain income, more money could be spent.
The aim would be to reduce poverty and stimulate the economy by having Congress ready to push for a rise in the minimum wage and a permanent increase in child tax credits.
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Rumor has it that a fourth round of stimulus checks worth $ 1,400 is duePhoto credit: Getty
What is the American employment plan?
The first of the two possible stimulus packages is the American Jobs Plan.
If approved, the US government would be willing to invest more than $ 2 trillion in the US economy and create jobs by focusing on critical parts of US infrastructure.
These would address some of the country’s most pressing infrastructure problems such as damaged bridges, climate change, and caring for the disabled and the elderly.
However, according to Cnet.com, the American employment plan is unlikely to include a fourth stimulus check or any other obvious savings.
What is the American family plan?
The second stimulus plan in the pipeline is called the American Families Plan.
The large spending program is expected to focus on paid family vacations, free community college, and other domestic policies.
It can include a round of stimulus checks, with an estimated $ 1 trillion earmarked for individuals and families.
The Washington Post says approval is months ahead, but it could be revealed ahead of President Biden’s joint congressional session on April 28th.
HELPING HAND
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The plan is expected to introduce new $ 500 billion in tax credits that will be extended through 2025 – with the aim of lifting 5 million children out of poverty.
Biden will also use the plan to propose 12 weeks of paid family and sick leave and introduce childcare subsidies.
He would also hope to introduce two years of free college – also for adults and new high school graduates.
And the president can introduce free pre-school education for children ages 3 and 4.
Biden offers paid vacation tax credits to businesses with fewer than 500 employees so employees can get vaccinated
