Biden’s American Rescue Plan
(Stimulus payments Part III)

by: Income Tax Consultants LLC
(718)461-2871
A new $1.9 trillion plan pushed by President Joe Biden includes a host of initiatives aimed at shoring up Americans' finances as the Covid-19 pandemic rages on.

That includes $1,400 stimulus checks to bring the $600 payments Congress authorized in December to $2,000 in total.

The package also calls for raising the federal minimum wage to $15 an hour.

Now, Biden faces the task of trying to get the package through Congress. Despite a Democratic majority in both the House and Senate, analysts expect this will be no easy task. At a news conference on Monday, Biden also acknowledged the terms could change.

Stimulus Checks:

  • The plan includes a central promise of Democrats: boosting direct payments to individuals to $2,000 for most Americans, on top of the $600 that Congress approved in December.
  • The plan would also allow residents who are married to undocumented residents to receive stimulus payments -- who were barred in prior rounds.

Vaccinations, Testing:

  • Biden’s plan includes $20 billion to create a national vaccine distribution program that would offer free shots to all U.S. residents regardless of immigration status.
  • The plan calls for creating community vaccination centers and deploying mobile units in hard-to-reach areas. Biden is also calling for $50 billion to ramp up testing efforts, including purchasing rapid-result tests, expanding lab capacity and helping local jurisdictions implement testing regimens.

Unemployment Insurance :

  • Biden’s plan would extend and expand unemployment benefits that are scheduled to run out in mid-March. The proposal increases a weekly federal benefit to $400 from $300 and extends it through the end of September.
  • It also extends benefits for self-employed individuals and gig workers, and those who have exhausted their regular jobless benefits.

Minimum Wage :

  • Biden is calling to more than double the federal minimum wage to $15 an hour from $7.25. In addition, he seeks to end the tipped minimum wage used widely by restaurants and the hospitality industry. At $2.13 an hour, it gives lower minimums to employees that get tips.

Paid Leave:

  • The Biden plan would create a requirement for employers, regardless of size, to offer paid sick leave during the pandemic to workers -- a change that the transition team says will extend the benefit to 106 million workers. Parents and family members caring for sick relatives or out-of-school children could receive more than 14 weeks of paid sick and family leave.
  • The plan would provide benefits of up to $1,400 per week and tax credits for employers with fewer than 500 employees to reimburse them for the cost of the leave.

Tax Credits, Childcare:

  • Biden would expand tax credits for low- and middle- income families and make them refundable for 2021. He is proposing to expand the child tax credit to $3,000 from $2,000 for each child 17 and younger. Children under age six would be eligible for $3,600.
  • Biden is also requesting $25 billion for a stabilization fund to help open child-care centers and $15 billion in grants to support essential workers in meeting childcare costs.

Open Schools:

  • The plan is also calling for $170 billion to help schools to open -- something Biden has said would allow many parents, especially women, to rejoin the labor force after they dropped out to care for children learning at home.
  • About $130 billion would go to K-12 schools to help them hire additional staff to reduce class size, modify spaces and purchase resources to help meet students’ academic and mental health needs. The plan would also direct $35 billion to colleges and universities and create a $5 billion fund for governors to direct help to schools most hard-hit by the virus.

Rental Assistance:

  • The proposal would extend the eviction and foreclosure moratorium through September. It would also provide $30 billion to help low-income households who have lost jobs pay rent and utility bills. The plan would also provide $5 billion to states and localities to offer emergency housing for families facing homelessness.

Small Business:

  • Biden is proposing to leverage $35 billion in government funds into $175 billion in low-interest loans to finance small businesses. He is also calling for $15 billion in grants for such employers. He is proposing to use laid-off restaurant workers to partner with federal nutrition programs to get those employees working again.


總統拜登推動的一項新的1.9萬億美元計劃包括一系列舉措,目的是在Covid-19流行病毒肆虐之時,加強美國人的財務狀況。

其中包括1,400美元的經濟紓困付款,以使國會在12月2020授權的600美元的付款達到2,000美元。

該計劃還要求將聯邦最低工資提高到每小時15美元。

現在,拜登面臨著試圖通過國會獲得該方案的任務。 儘管在眾議院和參議院中民主黨都佔多數,但分析人士預計這並非易事。 在周一的新聞發布會上,拜登還承認條款可能會發生變化。

經濟紓困付款:

  • 該計劃含蓋民主黨人的主要承諾:在國會12月份批准的600美元基礎上,將對大多數美國人的個人直接付款提高至2,000美元。
  • 該計劃還將允許與無證居民結婚的居民獲得經濟紓困付款-在先前的回合中被禁止。

疫苗,檢測:

  • 拜登的計劃包括200億美元,以創建一項全國疫苗分發計劃,該計劃將向所有美國居民免費提供注射疫苗,無論其移民身份如何。
  • 該計劃要求建立社區疫苗接種中心,並在難以到達的地區部署機動部隊。拜登還呼籲提供500億美元,以加大測試力度,包括購買快速結果測試,擴大實驗室容量以及幫助當地司法管轄區實施測試方案。

失業保險救濟金 :

  • 拜登的計劃將增加和擴大原定於3月中旬用完的失業救濟金。該提案將每週的聯邦福利從300美元增加到400美元,並將其延長到9月底。
  • 它還為個體經營者和零散工的工人以及已經用盡了常規失業救濟金的人提供福利。

最低工資:

  • 拜登呼籲將聯邦最低工資提高一倍以上,從每小時7.25美元提高到每小時15美元。此外,他力圖結束餐館和酒店業廣泛使用的小費員工最低工資標準。每小時2.13美元,它為賺取小費的員工提供了更低的最低費用。

帶薪病假:

  • 拜登計劃將要求雇主不論規模大小,在大流行期間向工人提供帶薪病假,這一變化將使福利擴大到1.06億工人。照顧生病的親戚或失學兒童的父母和家庭成員可以獲得超過14週的帶薪病假和家庭假。
  • 該計劃將為每周少於1400美元的僱員提供優惠,並為少於500名僱員的雇主提供稅收抵免,以補償他們的請假費用。

稅收抵免,托兒 :

  • 拜登將擴大對低收入和中等收入家庭的稅收抵免,並使其在2021年可退還。他建議將兒童稅收抵免從每個17歲以下的兒童的2,000美元擴大到3,000美元。六歲以下的兒童有資格獲得$ 3,600。
  • 拜登還要求提供250億美元的穩定基金,以幫助開設兒童保育中心,並提供150億美元的贈款,以支持基本工人們支付兒童保育費用。

開放學校:

  • 該計劃還呼籲提供1,700億美元幫助學校開放-拜登曾說過,這樣做可以讓許多父母,特別是婦女,在輟學照顧在家學習的孩子後重新加入勞動力市場。
  • 大約1300億美元將用於K-12學校,以幫助他們增加員工人數,以減少班級規模,修改空間和購買資源,以滿足學生的學術和心理健康需求。該計劃還將向大學提供350億美元的資金,並為州長設立50億美元的基金,用於向受病毒影響最嚴重的學校提供幫助。

租金協助:

  • 該提案將把驅逐和取消延期偿付的禁令延長至九月。它還將提供300億美元,以幫助失去工作的低收入家庭支付租金和水電費。該計劃還將向各州和地區提供50億美元,為面臨無家可歸的家庭提供緊急住房。

小型企業:

  • 拜登提議將350億美元的政府資金用於1,750億美元的低息貸款中,以資助小型企業。他還呼籲為這些雇主提供150億美元的贈款。他提議與下崗的餐廳工作人員一起參加聯邦營養計劃,以使這些工作人員再次工作。

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