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Here's what's in Biden's $1.9 trillion economic rescue package

January 14, 2021. Summarized by summa-bot.

Compression ratio: 25.1%. 2 min read.

Bigger stimulus checks. More aid for the unemployed, the hungry and those facing eviction. Additional support for small businesses, states and local governments. Increased funding for vaccinations and testing.

Billed as the American Rescue Plan, the package augments many of the measures in Congress' historic $3 trillion coronavirus relief bill from March and in the $900 billion legislation from December, which was scaled back to garner support from Senate Republicans.

This applies to those in the Pandemic Emergency Unemployment Compensation program who have exhausted their regular state jobless payments and in the Pandemic Unemployment Assistance program, which provides benefits to the self-employed, independent contractors, gig workers and certain people affected by the pandemic.

The plan would provide $25 billion in rental assistance for low- and moderate-income households who have lost jobs during the pandemic.

Biden is also calling for $5 billion to help states and localities assist those at risk of experiencing homelessness.

The plan calls on Congress to create a $25 billion emergency fund and add $15 billion to an existing grant program to help child care providers, including family child care homes, to pay for rent, utilities, and payroll, and increased costs associated with the pandemic like personal protective equipment.

The plan calls for providing $15 billion to create a new grant program for small business owners, separate from the existing Paycheck Protection Program.

Biden wants to send $350 billion to state, local and territorial governments to keep their frontline workers employed, distribute the vaccine, increase testing, reopen schools and maintain vital services.

The plan would provide an additional $170 billion to K-12 schools, colleges and universities to help them reopen and operate safely or to facilitate remote learning.

The proposal would also invest $50 billion in testing, providing funds to purchase rapid tests, expand lab capacity and help schools implement regular testing to support reopening.

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