The updated $1.9-trillion stimulus plan was revealed by Senate Democrats on Thursday. The measure is expected to be passed by the chamber by the end of the week, according to Bloomberg.
- The legislation earmarks $160 billion for vaccine and testing programs. A national vaccine distribution program will offer free shots to all US residents.
- The Federal minimum-wage mandate was removed, and the $1,400 stimulus narrowed, depending on civil status. Residents married to undocumented immigrants were allowed to receive payments.
- A full subsidy for the health insurance premiums of laid-off workers through September was added.
- Democrats are pushing for $350 billion in aid for state, local, and territorial governments. States and cities warn they’ll be forced to make deep cuts with limited borrowing capacity.
- Tax credits for low- and middle-income families expanded to make them refundable for 2021. Child tax credits were also widened and to be sent to households monthly starting July.
- Bill calls for $170 billion to assist in the reopening of schools. Almost $130 billion will go to K-12 schools for hiring additional staff. Colleges and universities will get $40 billion.
- The legislation rivals the $2 trillion March 2020 Cares Act in scope. It also follows a $900 billion relief package in December.
- A longer-term economic recovery plan will be pushed in the coming weeks. It will cover job creation, infrastructure investment, and development goals, such as climate change.
