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Congressional budget office american rescue plan
Congressional budget office american rescue plan




congressional budget office american rescue plan

In February, 2021, the nonpartisan Congressional Budget Office (CBO) projected that the U.S. It is now approaching $30 trillion.īut despite all this spending and all the promises associated with the “American Rescue Plan”, the American people are seeing little progress on key priorities: Employment disappointment government debt topped $28 trillion for the first time in history. Relatedly, the same month President Biden signed the bill, U.S. This $1.9 trillion spending package came after a $2 trillion coronavirus spending package signed a year earlier, and closely followed a nearly $1 trillion coronavirus bill signed just a few months before. “This COVID-19 relief bill is going to provide immediate support to Arizona working families and small businesses, help reopen schools safely, get vaccines into peoples’ arms more quickly, and start getting our economy back on track” - Senator Mark Kelly “The American Rescue Plan will help our nation heal by getting vaccines into arms, expanding COVID-19 testing and tracing, and providing schools with the resources they need to reopen safely…” - Senator Mark Warner “The American Rescue Plan will help us get more vaccines in arms, get our children back in schools, put people back to work, and help families and small businesses pay their bills…” - Senator Maggie Hassan

congressional budget office american rescue plan

With Americans today facing a weak economy, an ongoing pandemic, continued school closures, and a lack of available testing, it’s important to remember that these were exactly the problems that the bill was supposed to address: Many confident predictions were made about how this legislation would improve lives.

congressional budget office american rescue plan

It had passed the House and Senate by razor thin margins, but was hailed by supporters as critical coronavirus relief legislation.īut with taxpayers footing the bill for all this spending, it’s important to ask whether they’re getting their money’s worth. Res.Last year president Joe Biden signed the first major piece of legislation of his presidency: the “American Rescue Plan” (ARP). The 2021 budget resolution laid the groundwork for bold action by providing the option of using the budget reconciliation process to deliver crucial relief to the American people and achieve the goals of President Biden’s American Rescue Plan. Virtual Markup of The American Rescue Plan Act of 2021 Section-by-Section Analysis (as of February 22, 2021) The American Rescue Plan Act of 2021 Bill Text as Reported 1319) - is the next step forward for delivering crucial relief to the American people and achieving the goals of President Biden's American Rescue Plan. This reconciliation bill - the American Rescue Plan Act of 2021 (H.R. We are in a race against time, and aggressive, bold action is needed before our communities are permanently scarred by the human and economic costs of inaction. Multiple variant strains of the novel coronavirus are now infecting Americans across the United States, and our vaccine rollout and efforts to contain the virus are in desperate need of resources. House Democrats are working diligently to pass President Biden's American Rescue Plan and deliver vital COVID relief, with the understanding that this legislation must be signed into law before lifeline unemployment benefits expire. The quicker we act the more lives can be saved and the faster our economy will recover. Learn More About The American Rescue Plan






Congressional budget office american rescue plan