Biden stimulus showers money on Americans, sharply cutting poverty in defining move of presidency

[catbyte]

The $1.9 trillion package enjoys wide support across the country, polls show, but it comes with political and economic risks.

By
Heather Long,
Alyssa Fowers and
Andrew Van Dam
March 6, 2021 at 4:02 p.m. EST

President Biden’s stimulus package, which passed the Senate on Saturday, represents one of the most generous expansions of aid to the poor in recent history, while also showering thousands or, in some cases, tens of thousands of dollars on Americans families navigating the coronavirus pandemic.

The roughly $1.9 trillion American Rescue Plan, which only Democrats supported, spends most of the money on low-income and middle-class Americans and state and local governments, with very little funding going toward companies. The plan is one of the largest federal responses to a downturn Congress has enacted and economists estimate it will boost growth this year to the highest level in decades and reduce the number of Americans living in poverty by a third.

This round of aid enjoys wide support across the country, polls show, and it is likely to be felt quickly by low- and moderate-income Americans who stand to receive not just larger checks than before, but money from expanded tax credits, particularly geared toward parents; enhanced unemployment; rental assistance; food aid and health insurance subsidies.

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The latest stimulus will reduce poverty by a third, lifting nearly 13 million Americans out of it, according to an analysis by Columbia University’s Center on Poverty and Social Policy. Black Americans, Hispanic Americans and poor families with children are set to benefit the most. Child poverty would be reduced by more than half, the researchers predict.

snip

https://www.washingtonpost.com/business/2021/03/06/biden-stimulus-poverty-checks/

[Irish_Dem]

1. Biden is the new FDR.

[SoonerPride]

2. The only thing we have to fear

Is trumpism itself.

[Irish_Dem]

3. Yes Trump and the GOP are the serious and real fears.

[Johnny2X2X]

4. He's a transformative President.

I don’t think people get how progressive he has been so far. He’s changing the country.

[Irish_Dem]

6. Yes he is. People don't see it yet.

He is much more progressive than he has been in the past.
I am thrilled.
I knew he was the only one who could beat Trump and would do a good job.
There was no promise of him being so left of center.

[XanaDUer2]

7. I supported Biden from the get-go

and thank God for Jim Clyburn. I knew Biden could take down the Orange Freak. I'm very impressed so far!

[Irish_Dem]

8. I did too, way before he even announced. He was the man we needed right now.

A known commodity and he was the only one who could beat the Orange F-wad.

Joe's very progressive agenda is frosting on the cake.

I am to the left of AOC, so for me to be thrilled says a lot.

[Cha]

17. TY! Same here.. & we worked

hard!

[mcar]

5. This is a BFD

And he got nearly all that he wanted, with a 50-50 senate.

[JI7]

9. Experience Matters

[Cha]

18. Yes & Qualifications!

[WarGamer]

10. How many months will they be lifted out of poverty?

What happens then?

[blm]

11. A REAL Infrastructure program means jobs.

[WarGamer]

12. Hope that passes as easily as the COVID Bill.

[TwilightZone]

13. Hmm, a 30-second Google search...

https://www.cnbc.com/2021/02/15/biden-covid-relief-measures-and-long-term-plans-to-boost-jobs.html

[WarGamer]

14. Different legislation.

Infrastructure Bill and GND legislation would both do the trick and both are needed...

But Manchin, Sinema and Feinstein will decide those topics.

[Hermit-The-Prog]

15. Let us not let VOTERS forget all the DEM Representatives and Senators behind this.

Up and down the ballot, voters need to understand that both parties are not the same.

[Tommymac]

16. K & R

[DesertRat]

19. The Dems just cut child poverty in half!

The massive expansion to child tax credit is going to lift about 10 million children out of poverty (about 6 million out and 4 million close)
On top of that is additional covid relief plus unemployment. So for families most hard hit- it's essentially entire income replacement.
This is a bfd!