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The American Rescue Plan Act was signed into law on the 11th of March 2021. The bill narrowly made it through Congress following a vote along party lines. Democrats say the 1.9 trillion dollars of spending is necessary to support the economy. Republicans reject the law saying it’s a list of Democratic funding priorities. Today we’ll be going over the major provisions and criticisms of this law.
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The single largest provision of the law is 414 billion for a third round of stimulus checks. The next line item is 350 billion for state and local fiscal support. After that is 163 billion for unemployment benefits, 123 billion for education, and 88 billion for child tax credits.
The law gives individuals making under 75 thousand dollars a 14 hundred dollar stimulus check. Couples making under a combined 150 thousand dollars will receive two stimulus checks. Children and other dependents will also receive the full 14 hundred dollar check. Once your income is above the threshold, the amount received will drop dramatically with individuals making over 80 thousand or couples making over 160 thousand receiving nothing.
States are set to receive 220 billion in support with local jurisdictions receiving 130 billion. States will receive an equal but small amount with a majority of funding distributed based on unemployment numbers. Local funding is divided into metropolitan areas, counties, and state grants. Unlike state funding, local funding is based on poverty rates, population size, and other factors.
The American Rescue Plan Act also extends the enhanced unemployment benefits from the cares act. The additional $300 dollars a week will now continue through September.
The education provision is mostly grants for states. 90 percent of state grants must be given to local governments who must the use at least 20 percent of the money on catching students up from virus related learning loss. Funding for education is mostly for the future with less than 10 percent for 2021. There is also 40 billion dollars for higher education grants that prioritize smaller schools.
The law allocates 88 billion dollars for increasing existing child tax credits from 2000 to 3000 dollars per child. The credit is completely refundable which means that parents will receive the full amount regardless of how little they make.
Funding for virus response is included throughout the law with 10 billion for medical supplies, 47.8 billion for testing and tracing, 50 billion for FEMA, and 8.5 billion for health care providers.
Perceptions on the virus will likely inform perceptions of the law. A Republican who believes we’re coming out of the crisis sees the virus as an excuse for an unnecessary expansion of existing welfare programs. A Democrat who believes we’re still a long way from getting back to normal likely sees this as necessary spending to support programs assisting people out of work. A good example of this is funding for states. It will be allocated based on the number of unemployed people in each state. This disproportionately benefits Democratic states since their restrictions keep unemployment rates high.
Objectively, there are many parallels between the Democratic Party Platform’s calls for welfare expansions and the law. Here are just a few of the provisions that line up. With cases, deaths, and restrictions dropping and tens of millions now vaccinated, Republicans say the law does too much too late. What do you think about the law? Is it too much, too little, or just about right? If you want to know more about how laws are implemented, check out our video executive orders. Don’t forget to like comment and subscribe. Thank you for watching and have a great day.