Understanding Bidens American Rescue Plan
Joe Biden began his presidency with a revived plan to handle the economic impact of COVID-19. On March 11th, 2021, President Biden signed the American Rescue Plan Act of 2021 into law. The President had many ambitious goals with his plan. He wanted to:
> Raise the minimum wage to $15 an hour.
> Repeal right to work laws.
> Forgive student loan debt.
> Make college free for those making up to $125,000
>Provide health insurance coverage to 97% of Americans over the course of a decade.
> Raise $4 trillion more in tax revenue.
> Expand Buy American policies.
> Spend $2 trillion on clean energy.
> Invest $1.3 trillion in infrastructure over the course of a decade.
Understanding The American Rescue Plan
Americans first learned of President Bidens plan on January 14th 2021 when he officially announced his $1.9 trillion COVID-19 plan of action. On March 11th 2021, he turned that plan into law. It promised $1,400 stimulus checks, vaccination rollouts, an extension of unemployment benefits, and more.
Overall the American Rescue Plan wanted to put funds towards combating the virus, improve social safety, and aid local and state governments. Some of the key parts of the plan are:
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If McDonald's paid those kids $15 an hour a Big Mac would cost $10.