قالب وردپرس درنا توس
Home / US / Law on HEROES for $ 2.2 trillion. Provide a second round of incentive testing

Law on HEROES for $ 2.2 trillion. Provide a second round of incentive testing



House of Democrats revised bill on incentives will restore some popular programs that were designed to help families survive the coronavirus pandemic. Highlights include $ 1,200 in adult incentive checks for middle- and low-income families.

Democrats introduced the event ahead of talks with Finance Minister Stephen Mnuchin. In a statement, Parliament Speaker Nancy Pelosi said the bill reflected a package that was $ 1.2 trillion less than the Democrats’ original HEROES Act in May, which failed to advance amid opposition Republicans. The new bill is called the updated HEROES Law, which means “Law on Emergency Decisions on Health Care and Economic Recovery.”

;

The new bill will also restore $ 600 in additional weekly unemployment benefits, which until the end of July provided relief to tens of millions of adults who lost their jobs when the pandemic crippled the economy in March.

Although the country’s unemployment rate fell to 8.4% in August from 14.7% in April, more than 21 million workers are out of work or out of work due to the pandemic, according to the Institute for Economic Policy.

Restoring an additional $ 600 in weekly federal unemployment benefits will provide a critical increase in income, “especially for recipients in states where unemployment benefits are limited to lower poverty,” said Rebecca Dixon, executive director of the National Employment Project, by e-mail.

However, the chances of passing the bill remain long. House Speaker Nancy Pelosi told reporters on Thursday that Democrats and the Trump administration were still far from each other on issues, including financing of state and local self-government. There is a “strict difference not only in dollars but also in values,” she added.

The push to vote this week would have a chance of success, as Heights Securities analysts gave it little chance of providing incentives for the Nov. 3 presidential election. But continued talks between Democrats and Mnuchin may suggest the bill is gaining popularity, analysts say.

The House is likely to vote on the aid bill on Thursday, signaling that the prospects for an agreement between Democrats and the White House may fade. However, even if the bill fails to progress, the legislation could be the basis for another stimulus round if Democratic presidential candidate Joe Biden wins the White House and Democrats gain control of the Senate.

Who will receive an incentive test?

The second incentive payment will reflect the initial round of inspections allowed in March by the Coronavirus Assistance, Assistance and Economic Security Act or the Concern Act.

  • Individual taxpayers with incomes of up to $ 75,000 would receive $ 1,200.
  • Married taxpayers with incomes of up to $ 150,000 would receive $ 2,400.
  • An additional $ 500 for each dependent.

As in the first round, taxpayers will reduce their payments if they earn the above limits, completely waiving $ 99,000 for single taxpayers and $ 198,000 for couples.

An important change is how the updated incentive bill treats dependents. In the first round, only children under the age of 17 were paid $ 500, and adult dependents – people over the age of 17 – were excluded. This meant that high school and college students claiming parental income tax claims were not eligible for $ 500 checks.

The updated HEROES Act stipulates that anyone withheld, regardless of age, can claim $ 500.

$ 600 in unemployment benefits

The bill will also restore $ 600 in additional weekly unemployment benefits, which were originally directed by the Care Act until July, when they expire.

The additional payments will be retroactive from September 6 and will last until January 31, providing more than four months of additional assistance to millions of unemployed families.

Many states are currently providing an additional $ 300 in unemployment benefits to President Donald Trump under an August order. The government agency that oversees these benefits has six weeks guaranteed payments. Eight states have already exhausted this payment, according to UnemploymentPUA.com, which monitors the program.

The average weekly unemployment benefit is about $ 333, or about $ 1,300 per month. Experts say this is far from enough to pay for basics such as rent, food and utilities in most regions.

Child care, food benefits

The legislation includes spending on other programs to help families, such as a proposal to spend $ 225 billion on education, including $ 182 billion on schools covering kindergarten up to 12th grade and $ 57 billion on childcare.

The updated bill on HEROES will increase the maximum benefit for food stamps by 15%, which is the support of supporters of the fight against hunger.

New census data show that “23 million adults reported that their household sometimes or often did not get enough food, which increased significantly compared to a similar survey in 2019,” said Robert Greenstein, president of the Center for Budget and Policy Priorities. , in a statement. “Children are particularly affected. Households with children are more likely to report difficulties in providing food and renting, which leads to serious difficulties for children, which studies show can have a lasting negative impact.”




Source link