Right now, a bill that would spend roughly 1.9 trillion dollars into the economy is making its way through Congress. It's called the American Rescue Plan, and after some tweaks by Congress, it is expected to be signed into law by President Joe Biden within the next week or so.
This is a big bill — at almost two trillion dollars, it's one of the biggest spending bills in American history, equal to roughly 9 percent of the U.S. GDP. On the Indicator, we are going to take a closer look at the details of what's actually in the bill. We are going to discuss where the money specifically is gonna go, and who gets the money: from almost all adults, to small businesses, to state and local governments. We discuss what effect the bill might have on each of these groups, including how it might directly affect a lot of you, our listeners!
Links to other resources:
Committee for a Responsible Federal Budget blog post: "What's in the $1.9 Trillion House COVID Relief Bill?"
Washington Post article: "What's in the House's $1.9 trillion coronavirus plan"
Statement from The House Committee on The Budget
Statement from The House Committee on Education and Labor
WSJ article: "Stimulus Package: What's in Joe Biden's 'American Rescue Plan'?"
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