4/7/2023 0 Comments Relief bill![]() This would allow those who have not yet been vaccinated to be regularly equipped with knowledge about their infection status and to make informed decisions about safely resuming work and other activities in a more normal way. Instead of wasting trillions of dollars on things that have nothing to do with COVID-19, the correct response to this problem should be targeted and temporary policies that are focused on reducing the spread of the virus.įor just a fraction of the bill’s $1.9 trillion price tag, we could deploy rapid self-administered COVID-19 testing around the country. While the health and economic trends have been positive, too many people are still out of work. > 5 Reasons To Avoid Another Big COVID-19 Package With the pace of vaccine distribution accelerating, safe re-openings and job gains should hopefully continue over the coming months. For the sake of comparison, the unemployment rate didn’t fall back to this level during the Great Recession until April 2014, more than five years after the crash began. ![]() The most recent jobs report showed more than 400,000 private-sector jobs were added last month, with the unemployment rate dropping to 6.2 percent. Now, however, the economy is showing welcome improvement. This caused the unemployment rate to spike to 14.8 percent last April. One year ago, America entered a sharp economic downturn as state governments began closing down normal business operations. Even Larry Summers, chairman of President Obama’s National Economic Council, has expressed fear that this new package is so costly, it could backfire, hurting the economy. Adding another $1.9 trillion to the national debt is a bad idea. The fact that this terrible idea was even included in a “COVID-19 stimulus” bill shows just how out of touch the “stimulus” bill is.Īccording to the Committee for a Responsible Budget’s COVID Money Tracker, of the $4.1 trillion in federal “coronavirus response funding” already signed into law, about $1 trillion still remains unspent. In one bit of good news, the misguided proposal to increase the minimum wage to $15 per hour, which would have killed 1.4 million jobs, was thankfully dropped from the bill. Worse, this round of bailouts will reward those states that enacted especially draconian lockdowns that wrecked their economies, closing businesses and pushing workers onto unemployment. This spending is completely unwarranted, as last year’s coronavirus relief measures have already given states windfall funding well in excess of their projected revenue shortfalls. The bill would send another $350 billion to state and local governments, on top of the hundreds of billions already provided. > 8 Things You Must Know About Deeply Flawed COVID-19 Package How is that supposed to help reopen our schools? More of this funding will be spent in 2026 than in 2021. But the non-partisan Congressional Budget Office says that only $6.2 billion of that-just five percent-would actually be spent by October. The bill would provide $126 billion for K-12 schools around the country. This union bailout gets about twice as much funding as COVID-19 testing and contact tracing. The vast majority will go to special interest payoffs and other wasteful spending that will do little to reduce the spread of COVID-19 or help the economy recover.įor example, nearly $90 billion is earmarked for a taxpayer-funded bailout of union pension plans that were massively underfunded long before OCVID-19. In fact, less than 10 percent of the bill’s spending will be dedicated to public health. Instead, it is stuffed with a wish list of progressive policies that have nothing to do with the pandemic. Though regularly billed as “the COVID-19 relief bill,” the legislation is not focused on reducing the spread of the disease. The House rejected her motion and carried on.President Joe Biden’s $1.9 trillion “ American Rescue Plan” is expected to be signed into law this week. Marjorie Taylor Greene, R-Ga., sought to throw a wrench into the process by making a motion to adjourn, calling the measure it a "massive woke progressive" bill that should be stopped. And it would expand the annual child tax credit to $3,600 for children up to age 5 and $3,000 for children ages 6 to 17. The bill provides $300 a week in enhanced jobless benefits through Sept. The direct cash includes up to $1,400 per dependent, including adult dependents. Individuals making up to $80,000 and joint filers up to $160,000 will get some money but not the full amount. ![]() The legislation will grant $1,400 direct payments to individuals making under $75,000 and $2,800 to married couples who make less than $150,000. "We have acted with the urgency that this pandemic demands." "I am immensely proud that we will soon send this bill to President Biden's desk to be signed into law," said House Budget Committee Chair John Yarmuth, D-Ky.
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