The President of the United States, Joe Biden signed the historic $1.9 trillion economic relief bill on 11th March, making it into law. The aim of the bill is to provide relief and aid Americans impacted by the Covid-19 pandemic and pull millions out of poverty.
This bill, known as the American Rescue Package, is one of the largest in US history and includes $1,400-per-person stimulus payments, an extension of jobless benefits for the millions out of work, and a child tax credit of up to $3,600 per child. It also includes billions of dollars aid for K-12 schools to help students return to the classroom and for small businesses hard-hit by the pandemic. Further, it provides subsidies for health insurance for people who have lost jobs. To facilitate and expedite vaccine administration, the bill has also set aside federal money to assist in the distribution of coronavirus vaccine doses.
The US Treasury department confirmed that it will begin sending out those cheques as soon as the weekend.
“This historic legislation is about rebuilding the backbone of this country and giving people in this nation, working people, middle class folks, people who built the country, a fighting chance,” Biden said in the Oval Office before signing the legislation. “That’s what the essence of it is.”
Biden also addressed the nation later, announcing plans to order states to allow all adults to receive vaccines by 1st May 2021. He also said that 4th July – the American Independence Day – could be celebrated as a day of independence from the coronavirus.