his , which includes a , an and . With a price tag of $1.9 trillion, it's just shy of the that was passed last March when the triggered shutdowns across the US.
Polls show people overwhelmingly support Biden's plan, but there's already a wealth of misinformation on social media declaring that this bill is a "heist" and won't help Americans. Those claims are false.
So let's clear up the confusion and inaccurate information about the.
I hear only 9% of the $1.9 trillion bill is going to Americans. How much are we really getting from Biden's plan?
- ($422 billion).
- ($246 billion).
- ($143 billion).
These provisions provide funds that go directly to qualified Americans and account for 43% of the $1.9 trillion plan.
There are also other provisions in the bill that will go to those in need, such as:
- Emergency rental assistance ($30 billion).
- Mortgage payment assistance ($10 billion).
- An extension of paid sick leave and the employee retention credit ($14 billion).
- Subsidized COBRA coverage for laid-off workers ($14 billion).
- The purchasing and distribution of food for needy individuals ($4 billion).
- Extended SNAP benefits ($1.15 billion).
- The Low Income Home Energy Assistance Program ($4.5 billion).
These benefits total approximately another $78 billion going to those in need. Combined, they make up $888.65 billion or 47% of the $1.9 trillion.
COVID Bill provisions
|Third stimulus check||$422 billion|
|Enhanced unemployment||$246 billion|
|Extending child care tax credit||$143 billion|
|Emergency rental assistance||$30 billion|
|Mortgage payment assistance||$10 billion|
|Extend paid sick leave||$14 billion|
|Subsidize COBRA coverage||$14 billion|
|Food for needy individuals||$4 billion|
|Extend SNAP benefits||$1.15 billion|
|Low Income Home Energy Assistance Program||$4.5 billion|
I keep hearing 90% of the bill has nothing to do with COVID. What's the deal?
WhenThursday, he said it'll give "people in this nation, working people, middle-class folks, people who built the country, a fighting chance." The plan focuses on economic relief for those affected by the , but it also provides funding for efforts to combat the virus itself. Both are important to help with the recovery of the economy.
"The bill provides funding for key public health support and for important programs, like enhanced unemployment insurance, to help people make ends meet as we head into an economic recovery," said Erica York, an economist at the Tax Foundation. "Lawmakers were trying to avoid doing too little, and on that, I think they have certainly succeeded and many households will see a significant income boost in 2021."
However, some officials criticize the bill by questioning everything other than money that goes directly into fighting the virus.
The bill has $110 billion going toward fighting the pandemic, according to the Committee for a Responsible Federal Budget. This includes money to distribute vaccines, conduct coronavirus testing, buy protective equipment and fund other assistance for tackling the virus.
The rest of the $1.9 trillion, however, doesn't go to waste. The CRFB estimates that 15% of the plan, or $300 billion, goes to "long-standing policy priorities that are not directly related to the current crisis."
What about the $1 trillion of COVID relief that hasn't been spent yet?
During the debates in both the House and Senate, a common Republican complaint about the bill was the claim that there's $1 trillion left over from the previous relief package passed during the Trump administration.
According to the COVID Money Tracker, there's approximately $1 trillion in legislative actions still unspent. That money, however, is not just sitting in a bank account without any designation.
"Just because there's money unspent doesn't mean there aren't still needs," Marc Goldwein, senior vice president and senior policy director for the CRFB, told Politico on Feb. 27.
The funds yet to be spent were set aside for programs at a later time, according to the previous relief bills. Some of the money will go to unemployment, Medicaid, the Payment Protection Program and other aid, which makes it difficult to redistribute funds to other programs.