Flashback March 11, 2021

Please recall Biden Signs $1.9 Trillion Covid Relief Bill.

Key Points 

President Joe Biden signed the $1.9 trillion coronavirus relief package on Thursday afternoon.

The plan, his top priority as president, sends direct payments of up to $1,400, extends a $300 per week unemployment insurance supplement, expands the child tax credit and puts funds into vaccine distribution.

Democrats passed the legislation on their own in Congress, as Republicans question the need for a major stimulus package while the economy improves.

Three Rounds of Fiscal Stimulus 

The US federal government sent out three waves of stimulus payments since the start of the covid-19 pandemic in March 2020. Here's a look back at Three Rounds of Stimulus.

First round of economic stimulus checks: April 2020 - The CAREs Act included a provision for a round of stimulus payments – eligible tax-paying adults received a check of up to $1,200 while eligible dependents under 16 years of age received $500 each (a maximum of three dependents could be claimed for).

The second round of aid, a $900 billion package which was part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 was signed off by Trump on 27 December 2020. It provided a one-off check of up to $600, but this time, households were also able to claim an additional $600 for child dependents aged 16 or under.