Congress Passes Massive COVID Bailout Bill Which Costs Taxpayers More Money Than They Will Receive

By The Federalist. Democrats in Congress passed President Joe Biden’s $1.9 trillion COVID-19 spending bill on Wednesday without any votes from Republicans, costing taxpayers thousands of dollars more than they could potentially receive in a stimulus check.

The legislation, which Biden is expected to sign into law on Friday, contains a myriad of provisions ranging from extending unemployment benefits through September, expanding the child tax credit, allocating billions of dollars for small business loans through the paycheck protection program, designating billions more for the Low Income Home Energy Assistance Program, expansions on Obamacare insurance subsidies even for those who may not need the financial help, paying the Centers for Disease Control (CDC) billions to help facilitate vaccine distribution and administration, grants for restaurants, money for schools which may or may not reopen, tax hikes, and much more.

Less than 9 percent of the total spending bill goes directly to combatting COVID-19 or vaccine distribution. . .

One of the most popular measures included in the bill is direct payments of $1,400 to Americans who fall below a yearly income of $75,000 for individuals and $150,000 for couples who file jointly. An extra $1,400 will be distributed for each dependent an individual claims on their tax returns. Most of these payments, however, will not outnumber the price of the legislative spending that will eventually have to be paid by taxpayers, which amounts to approximately more than $5,000 each.

While at least $1 trillion sits unspent from the round of stimulus packages shoved through the legislature in previous months, other provisions unrelated to the pandemic were also tucked into the more than 600-page bill. It includes millions of dollars for libraries, public broadcasting, pollution mitigation, and abortion programs not subject to the Hyde Amendment, which is supposed to prevent taxpayer-funded abortions. (Read more from “Congress Passes Massive COVID Bailout Bill Which Costs Taxpayers More Money Than They Will Receive” HERE)

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Congress Passes COVID-19 Relief Bill

By CNN. House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer just signed the $1.9 trillion Covid-19 relief bill on Capitol Hill to officially send the legislation to the White House.

In remarks, Pelosi thanked President Biden and several other lawmakers in both the House and Senate.

“President Biden’s vision and his determination were so apparent to the American people and the reason why this legislation enjoys this support of 75% of the American people in a strong bipartisan way across the country,” Pelosi said. “We thank him for his leadership and also for his contribution to the substance of the legislation as well as his signature when that comes.”

President Biden plans to sign the bill into law on Friday afternoon at the White House. (Read more from “Congress Passes COVID-19 Relief Bill” HERE)

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