Stimulus checks
The home account offers direct payments worth up to $ 1400 per person. A family of four can receive up to $ 5,600.
Individuals earning less than $ 75,000 per year and couples earning less than $ 150,000 will receive the full amount.
The payment is calculated based on the income of 2019 or 2020. Unlike the previous two rounds, adult dependents may be eligible for the payments.
Unemployment benefits
The House Bill would extend two major unemployment programs for pandemics until August 29th. It would also increase the federal weekly boost to $ 400, from the current $ 300, and continue for the same period.
The president’s plan asked continue the benefits until the end of September.
The former offers benefits to freelancers, gig workers, independent contracts and certain people affected by the pandemic, while the latter extends the payment period for those in the traditional state unemployment system.
The $ 300 improvement also ends mid-March.
Nutrition assistance
The House Plan would extend the increase in food stamp benefits by 15% until September, instead of expiring at the end of June.
It also includes $ 880 million for the special supplementary nutrition program for women, infants and children known as WIC. Biden has asked to invest $ 3 billion in the program.
Housing assistance
According to the Congressional Budget Office, the legislation would send about $ 19.1 billion to state and local governments to cover rents, rent assistance and low-income households with unemployed members.
It would also give about $ 10 billion to states and tribes to provide mortgage loans and other financial aid to homeowners affected by the pandemic.
And it will provide a total of $ 11 billion to provide rental assistance, homeless services and support, housing counseling and mortgage support.
Tax credits for families and workers
It would also be fully refundable so that more parents with low incomes could utilize it. In addition, families could receive monthly payments, rather than a lump sum, which would make it easier to pay the bills.
The bill also strengthens the income tax credit for workers without children by nearly tripling the maximum credit and taking more people into account. The minimum age for claiming childless credit will be reduced from 25 to 19 years, and the upper age limit will be eliminated.
This would be the largest expansion of the income tax credit since 2009.
Education and child care
The bill would provide nearly $ 130 billion to K-12 schools to help students return to the classroom. Schools may use the money to update their ventilation systems, reduce class sizes to implement social distance, purchase personal protective equipment and hire support staff. This would require schools to use at least 20% of the money to address learning loss by, for example, offering long days or summer school.
The money is also meant to prevent the dismissal of teachers next year when some countries may struggle to balance their budgets. The pot of money will be available until September 2023.
The Democratic bill is in line with what Biden proposed, but calls for more than six times the amount for K-12 schools as a compromise plan proposed by a small group of Republican senators.
The Home Account now contains nearly $ 40 billion for colleges. Institutions will be expected to spend at least half of the money to provide emergency loans to students.
A total of $ 170 billion will be authorized for K-12 schools and higher education. Last year, Congress approved a total of $ 112 billion between two emergency packages that went to K-12 schools and colleges.
The bill would also provide $ 39 billion to child care providers. The amount a provider receives is based on operating expenses and is available to pay and rent employees, to help families struggling to pay the costs, and to purchase personal protective equipment and other necessities.
Health Insurance Subsidies and Medicaid
Entries pay no more than 8.5% of their income for coverage, compared to 10%. Those who earn more than the current maximum of 400% of the federal poverty level in 2021 – about $ 51,000 for an individual and $ 104,800 for a family of four in 2021 – would be eligible for assistance.
In addition, the legislation would strengthen the subsidies for lower-income subscribers and those who collect unemployment benefits, eliminating their premiums altogether.
The bill will also provide assistance to those who want to stay on their employer plans through COBRA. These laid-off workers would pay only 15% of the premium until the end of September, although it could still be expensive.
The legislation also contains a seduction for states that Medicaid has yet to extend to low-income adults, giving them a 5% boost in their federal funds for Medicaid matchmakers for two years.
Assistance to states
The House legislation would provide $ 350 billion to state and local governments, as well as tribes and territories.
Additional aid to states was one of the most controversial elements of congressional bailouts, while Democrats wanted to add the $ 150 billion in March legislation and Republicans resisted such efforts. The December package finally dropped an initial call to include $ 160 billion.
Vaccines and testing
The Home Account provides $ 14 billion for vaccines, $ 46 billion for testing, contact detection and mitigation and $ 7.6 billion to employ 100,000 public health workers to support the response to the coronavirus. It would also invest $ 25 billion in tackling health inequalities and protecting vulnerable populations.
According to the president’s plan, $ 20 billion had to be invested in a national vaccination program. It will also fund the hiring of 100,000 public health workers, nearly tripling the workforce in the community.
Minimum wage
The legislation would increase the federal minimum wage by 2025 in phases to $ 15 per hour. It will also guarantee that workers with a fee, youth workers and workers with disabilities pay the full federal minimum wage.