WHEN WILL YOU GET BIDENS TAX STIMULUS
March 6, 2021 - Douglas Myser
When will you get bidens tax stimulus. President Biden's $1.9 trillion dollar tax relief plan proposes another batch of checks for Americans of $1400 for just about all Americans. With the economy now showing signs of weakness, a lackluster jobs report, due to increased Coronavirus cases, this next round of checks could provide relief to millions of Americans who really do need it at this time. They are suffering from financial consequences of a devastating economic impact, due to the Virus, and its impact on the economy. When will you get bidens tax stimulus.
The cost of the relief package, called the American Rescue Plan, is likely to face pushback from Republican lawmakers, who last year resisted Democratic efforts to pass a $2 trillion bill. Some financial analysts in the past had expected the package to be slimmed down, but as the economy faltered, Congress and the Biden Administration pushed for the full $1.9 trillion package as needed to restore a faltering and unstable economy. Many economists joined that view as jobs reports showed the economy was not bleeding jobs and more were going into unemployment lines. Support for the package gained steam as well, once the Georgia elections were over and the democrats new that they had the power to pass the bill thru reconciliation, bypassing the Republicans, if the Republicans put up too much resistance. So determining the Republican support became a crucial element in determining which way to go on the bill. Eventually it was determined that not enough Republicans would join in, as they thought the amount was too much, so reconciliation became the go to play.
After some back and forth on limiting the $1400 checks to people who are not "high income" earners, the plan was developed and is most likely going to be passed by reconciliation by the end of February or early March. The $1400 checks will start being issued within one to two weeks after the bill passes Congress and is signed by President Biden into law.
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