Biden Set to Suggest $1.9 Trillion Spending Bundle to Fight Virus and Downturn

The Department of Labor reported Thursday that 1.15 million Americans filed new jobless claims in the first full week of the new year, up 25 percent from the previous week. Another 284,000 applications have been filed for Pandemic Unemployment Assistance, a federal emergency program for workers and freelancers who are normally not eligible for unemployment benefits. The nation cut 140,000 jobs in December, the department reported last week.

The second stimulus

Answers to your questions about the stimulus calculation

Updated December 30, 2020

The economic aid package will issue payments of $ 600 and distribute federal unemployment benefits of $ 300 for a minimum of 10 weeks. Find out more about the measure and what’s in it for you. For more information on how to get help, please visit our hub.

• • Do I get another incentive payment? Individual adults with adjusted gross income on their 2019 tax return of up to $ 75,000 per year will receive a payment of $ 600, and a couple (or someone whose spouse died in 2020) who earns up to $ 150,000 per year receives twice this amount. There is also a payment of $ 600 for each child for families who meet these income requirements. Individuals filing taxes with head of household status and earning up to $ 112,500 will also receive $ 600 plus the additional amount for children. People with incomes just above this level will receive a partial payment that decreases by $ 5 for every $ 100 of income.
  • When could my payment arrive? The finance department said on December 29 that it had started making direct deposits and would be mailing checks the next day. However, it will take a while for everyone to receive their money.
  • Does the agreement concern unemployment insurance? Legislators agreed to extend the length of time people can receive unemployment benefits and restart an additional federal benefit that is on top of the usual state benefits. But instead of $ 600 a week it would be $ 300. That will last until March 14th.
  • I am behind on my rent or expect to be soon. Do I get relief? The deal calls for $ 25 billion to be distributed by state and local governments to help backward tenants. In order to receive support, households must meet various conditions: the household income (for 2020) must not exceed 80 percent of the area median income; At least one household member must be at risk of homelessness or residential instability. and individuals must be eligible for unemployment benefits or face direct or indirect financial difficulties due to the pandemic. The agreement states that priority will be given to support for lower-income families who have been unemployed for three months or more.

The Biden “bailout” proposal, which would be funded entirely by increased federal borrowing, starts from the idea that the virus and recovery are intertwined.

Economists campaigning for more government aid to people and businesses said this week that Mr Biden’s advisors understand that the focus must be on vaccine use to get the virus under control.

“What the economy needs is a successful introduction of vaccines and a reduction in the risks of social and economic activity,” said Aaron Sojourner, labor economist at the University of Minnesota’s Carlson School of Management who served on the White House Economic Council advisers among the advisers Obama and Trump administrations. “This will go a long way toward promoting recovery. It won’t go all the way, but it will go a long way. “

Mr Biden, who has vowed to “get 100 million Covid vaccine shots in the arms of the American people” by his 100th day in office, said last week he intended to release almost all available coronavirus vaccine bottles after he took office as some hold back, as the Trump administration did.

The $ 20 billion program, which he will announce Thursday, calls for community vaccination centers across the country. In recent speeches, he said he would like to see mass vaccination sites in high schools, sports stadiums and the like that may be manned by the National Guard or Federal Emergency Management Agency staff.

Mr. Biden is also calling for a “Public Health Jobs Program” that aims to address its goals of strengthening the economy and response to Covid-19 while rebuilding the country’s fragile public health infrastructure. The proposal would fund 100,000 public health workers who “could perform critical tasks like contacting vaccines and tracing contacts,” the campaign said.

– This is a developing story. Please try again.

Sheryl Gay Stolberg contributed to the coverage.