March’s massiveis not yet two months old. President Joe Biden, however, is looking ahead to the next two stimulus packages from his administration that will focus on creating new jobs, reducing poverty and getting more money into people’s hands to spur the US economy starting in the second half of 2021.
The current American Rescue plan included American Jobs Plan, would, if approved, put more than $2 trillion into the US economy and create jobs through focusing on critical infrastructure. The one after that, the American Families Plan, according to the Washington Post, could set aside $1 trillion for individuals and families. If some in Congress have their way, a fourth stimulus check would also be included., up to seven and additional weekly $300 checks to fill in for . The next two stimulus packages for 2021– called the American Jobs Plan and American Families Plan — would send more money directly to people and let individuals and families hold on to more of the money they already have. The next package up, the
Right now, Biden’s plans are just that, but we’re following their development. We’ll share every benefit we know of so far. Plus, here’s what to expect from the enhanced, what is happening with , how to and how March’s stimulus bill can help you .
What does Biden’s timeline look like for the American Families Plan?
The American Families Plan is still months from approval. First, Biden and Congress are crafting the American Jobs Plan, a $2 trillion plan to build and upgrade roads and transportation hubs, improve the power grid, fund , expand affordable housing and bring to more rural areas.
As far as we know, the American Jobs Plan wouldn’t include aor other obvious savings. It’s the bill after that — the American Families Plan — that could come closer to sending more money to individuals and families. Keep reading for ways Biden and Congress plans to directly help you with the third stimulus bill, plus other proposals on the table.
How Biden’s American Families Plan bill could help you
After the Biden administration completes its infrastructure and jobs plan, it would move on to seek $1 trillion spending and $500 billion in new tax credits, according to the Washington Post, for the third stimulus package. Here are some of the main areas the American Families Plan could cover:
Extend the expanded child tax credit through 2025: The temporary expansion of the Columbia University’s Center on Poverty and Social Policy, and lift nearly 5 million children out of poverty entirely. The short-term expansion of the program is set to expire this year however, unless Congress renews the program. Biden’s plan would extend the expanded to 2025.in March’s stimulus bill is expected to reduce child poverty by 45%, according to