With Biden coming into presidency, and his promises to rebuild America, will his Covid release bill be a stepping stone into a brighter future?
Due to the recent pandemic caused by COVID-19, America has experienced a decline in the economy and the country as a whole. In order to sustain and improve the state of the country, President Biden passed the COVID relief package. With only 9% of the 1.9 trillion dollar bill going to the American people; where's the rest of it going? To answer that, the money has been going to help rebuild cities, and helping those businesses and schools that suffered greatly and that have been shut down. All together the relief package is meant to help stimulate the economy.
The relief package is pointing towards helping the people in order to keep the poverty
percentage down, while helping families that have had the head of the household lose a job, schools that were affected due to losing students, and to help take care of the city. For each individual who claimed under 75,000 or less on their tax return will receive upwards of $1,200 in support
and for married couples who claimed
Keeping the unemployment rate down in order together received upwards of $2,400 and for the economy to grow received an extra $500 per child.
Some cons to the bill would be that the bill is supposed to push for the federal minimum wage to be $15 over the $7.25 which is a little over double the original set number. Some argue that with Biden pushing for $15 in minimum wage isn't the best idea economically and for almost everyone as a whole. It may be great for the individual alone but other than that
more than likely it isn't. If the minimum wage went up to $15, the market of buying would increase as well. For those who don't make a lot of money or make “just enough” to get by, the minimum wage increase wouldn’t benefit them at all because the prices of everything else would increase due to inflation. Another
People concerned with inflation going up due point in question is where is the
to minimum wage going up money coming from? Almost all of the money came out of thin air...where did the
rest come from? The estimated amount of 1 trillion came from the Treasury. Although there are cons, there are pros to the bill too. It Has brought about the thought of lowering the unemployment rate. In the bill, there will be an additional $400 a week that extends the funding of people claiming unemployment. As mentioned before, with the terrible pandemic going around, 8.5 million U.S. Dollars will be donated to research centers to help the process of a vaccine being rolled out and perfected. Along with the boosted research of finding a vaccine and perfecting it, the money from the bill will be going towards reconstructing the cities in need. Biden has promised the reconstruction of the bridge to
connect New York and Canada which will cost roughly 1.5 million dollars, an underground rail system to Silicon Valley which will be another 100 million dollars, to donate to the Native American language preservation and maintenance which will add another 480 million, and
give 50 million dollars to the environmental The connection of Canada and New York that justice grant.The bill is set to help revive
Biden has promised to fix up the school systems that have been affected both negatively and positively. For those schools that have been negatively impacted from covid and losing students to other schools that provided a better online education, Biden has set aside money to bring back the needed necessities to continue to function as a school. For the schools that weren’t affected in a bad way, Biden still put forward money to ensure the students that went back to school were safe and had the resources to be successful.
All together, there is a middle line of the bill that both political parties can agree upon, of course there are some uncertainties but does the good outweigh the bad? In some cases yes, and in this case yes. It has helped the community and the entire United States of America as a whole. No longer will there be a struggle due to the Covid-19 virus.
-Story by Jacob Valencia '21