Senate Democrats are trying to get President Biden’s $1.9 trillion rescue plan approved from the Senate. After an exhausting night spent voting, Biden emerged victorious despite facing criticisms from the Republican party. The bill is an excellent way for Biden to win public approval and move in the right direction with respect to governance.
The bill adds $1.9 trillion to the federal expenditure. The amount will be spent on stimulus checks, vaccine distribution, jobless benefits, and healthcare among others. The approval of the bill is good news for the GDP as well as the economy of the country that had been affected badly by the virus.
According to the new vaccine distribution plan, it will be distributed in hospitals, schools, small businesses, and government organizations.
The $1.9 trillion packages are designed to help all the individuals and businesses struggling to stay afloat. It offers stimulus checks of $1,400 to the eligible persons, $300 per week for the 9.5 million unemployed Americans, tax relief to the students with loans, and growth in child tax credit. Moreover, the bill has allocated a considerable amount of ready money on sustenance and rent.
This bill is passed for the families living in straitened circumstances under the heavy toll of the coronavirus. It is to aid Americans in times of economic depression and might be the most comprehensive anti-poverty legislation to have ever passed.
There is significant upheaval in the Republican party as they have a different opinion over the law. The Republicans term it to be too costly and believe that it’s been designed to make the rich, richer. According to some Republicans, the bill is not at all related to the crises caused by the disease.
The Senate turned down another bid to increase the minimum wage of workers to $15 per hour. This amendment to the bill was proposed by Sen. Bernie Sanders, over which some are still bristling over.
A few legislators with a grasp over economic affairs are trying to rationalize that the enormous amount of the bill passed is too much. This bill might cause inflation in the future and might adversely affect the improvement the country has just started to make.
During the 2-day “vote-a-rama,” the Democrats prevailed over many GOP amendments, including a bid to rather have the numbers to be $650 billion instead of $1.9 trillion.
However, Biden and the Democrats are not back-tracked and are ready to spend more to revive the economy. The bill will be enacted as law after President Biden signs over it before March 14.