Off The Editor’s Desk – 3-17-2021
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More Free Money!
Last Thursday President Joe Biden signed into law the third stimulus round, which includes the government handing out $1.9 Trillion dollars of borrowed money.
I will try to put down in this column what is included in the new round of free money. I put together this information from several sources that came my way.
If you earn less that $75,000 per year as a single or $150,000 as a couple each of you will received $1,400, with each child also getting that amount. Anyone making more than $80,000 or $160,000 for couples will not be getting any money. According to information that I have, that money will go to about 90 percent of American households.
Several local people informed me on Sunday that they have already received their $1,400 stimulus money.
In unemployment assistance, a $300 federal boost to weekly jobless benefits, and extending unemployment’s benefits into September.
Last December’s $900 billion dollar stimulus program extended unemployment benefits to mid March, with the extra $300 weekly benefit contained in that bill is also set to expire this month.
The House bill called for raising the federal minimum wage to $15.00, but that provision was removed in the Senate. The House bill called for a step-by-step increase in the minimum wage, reaching the $15.00 an hour in 2025.
The bill extends the 15 percent increase in food stamps into September, sends $20 billion to local governments to help low-income households cover back rent, rent assistance and utility bills.
Provide about five billion each to states to assist those at risk of experiencing homelessness and those who are homeless.
The bill will increase tax credits for families and low-income workers for 2021. It expands the child tax credit to $3,600 for each child under six and $3,000 for each child under 18. The credit is currently at up to $2,000 per child under 17.
The bill would send about $130 billion to schools to help students return to the classroom where the schools would use the money to update ventilation systems, reduce class size, buy personal protective equipment and hire support staff and twenty percent of the money is to address learning loss by providing days or summer school and another $40 billon to colleges and some $39 billion to child care providers.
The Affordable Care Act will be more generous.
The Disaster Loan program from the Small Business Administration to help impacted small businesses with fewer than ten employees is provided with $15 billion. It also provides some $25 billion in a grant program to bars and restaurants. Those small businesses may get up to ten million to help with payroll, mortgage and rent, utilities, food and beverages. And another $175 million for an outreach program to help small businesses. The Paycheck Protection Program is currently taking applications for a second round and will get some $7 billion and the bill would make more non-profits eligible.
The bill will also provide somewhere around $60 billion for vaccines and testing because of the Coronavirus and $7.7 billion to hire 100,000 public health care workers and another $50 billion for the Federal Emergency Management to expand vaccination efforts.
I know that any bill coming out of our Democratic controled government would include some type of employment wording to hire more people and you can be assured if those 100,000 health care workers are hired, we will hear about all the jobs that Biden has created. But they have been created at the taxpayer’s expense.
Now we have burdened our kids, grandchildren, and great-grandchildren and so on with the federal government being thirty trillion dollars in debt. How are they going to pay that all back?
You knew that colleges would get a big chunk of money, because that is where you send your kids to get brain washed into the liberal way of thinking that all our needs and problems can be solved by the federal government.
I am going to tell you about this stimulus we are all going to receive, you better save it. Remember what Biden promised during the campaign? That he will raise our income tax load and you are going to need that extra money to satisfy the IRS, so don’t spend it.
Thanks for reading. ~Carlton