In the snapshot above, Biden is referring to the Republicans when talking about pushing out his plans for a relief bills. After looking at the disappointing statistics of how little jobs have been added in January, Biden plans to push the relief bill out, including the third stimulus check which, compared to the second stimulus check, extremely fast.
The relief bill contains a third $1400 stimulus check, but this time around there are more restrictions in place, meaning that depending on your yearly income, the full $1400 may not be paid out. However, the upside is that Biden plans for this stimulus check to include college students and dependents over the age of 16, which were not included in the last bill.
Regardless of whether the Republicans support Biden, he still plans to follow through with it anyway. It is noted that now it is easier for Biden to push out this bill, as this bill can pass the Senate with only 51 votes instead of the normal 60 votes. Additionally, the House of Representatives passed the plan by a 219-209 vote, where no Republicans were in favor of the bill. Nancy Pelosi also predicts that this relief bill will pass eventually by mid-March. This may seem like a positive thing for most people, but it also may have a negative effect on many other people. Larry Summers, Obama's top economic adviser, predicted there may be extremely detrimental inflation rates.
It seems that a majority of Republicans highly reject this bill, seeing as Biden's plans lack votes from the Republican side and they try to push for a cheaper $619 billion bill, but Biden just brushed it off. This all shows that there is a huge divide in political/economic views currently.
1 comment:
I think that economic relief for the nation is good to help us recover for the pandemic. I also think that Biden is attempt to rush the bill through the whole process. Especially after the last one had recently passed in december or january (I can't remember the month). I think that is better to space out the bills in order to help economy growth.
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