Biden’s new Stimulus package totaling 1.9t removed provisions that would increase the federal minimum wage to $15 an hour, while decreasing the threshold to citizens making less than $75,000 a year. The only thing that is hard to find within the Democrats new stimulus package is the amount of money going to corporations. As the net worth of Billionaires increased by 938b during the pandemic, the line between Republican and Democrats’ effort to redistribute wealth in the broken capitalist system, feels like hush money.
“The necessity of a $1,400 stimulus check to American Citizens fails to supersede the essential duty politicians have to continue to fight for the majority of Americans. “
Democrats that opposed such provisions included Democratic Sens. Joe Manchin of West Virginia, Jon Tester of Montana, Jeanne Shaheen of New Hampshire, Kyrsten Sinema of Arizona and Maggie Hassan of New Hampshire voted against proceeding, So did two close Biden allies, Chris Coons and Tom Carper of Delaware.
12 USC Ch. 54: SMALL BUSINESS CREDIT INITIATIVE implemented in the newest stimulus bill is just an updated package from the 2010 recession.
‘‘(i) IN GENERAL.—With respect to States that are Tribal governments, the Secretary shall determine the 2021 alloca- tion by allocating $500,000,000 among the Tribal governments in the proportion the Secretary determines appropriate, includ- ing with consideration to available employ- ment and economic data regarding each such Tribal government. In this case funding Tribal Governments include state governments, agencies, and accounts for which these applications are submitted, (bb) by striking ‘‘2008’’ each place such term appears and inserting ‘‘2020’’; (cc) in subparagraph (A), by striking ‘‘The Secretary’’ and in-serting ‘‘With respect to States other than Tribal governments, the Secretary’’; The Small Business Credit initiative would actually allocate 88.5b less to small businesses – even after the 10b Treasury injection and 1.5b to support Economically Challenged Individuals.
The New Stimulus Bill does nothing to curb large corporations relative to a tax plan or offer a solution to the growing amount of money being removed from the United States economy in the form of crypto currency. If these are to far fetched – surely $15 is possible. Bidens most significant victory is the allocation of $125b to the Education Stabilization Fund, as its appropriated to the Department of Education. 13b was allocated to K-12 programs under the first Bill as schools across the country are set to reopen.
The first stimulus plan had a threshold of a 500b allocation to large corporations, where parts of the collective bargaining agreements seek to allow separate deals within Biden’s Bill, meaning the subsidies for these companies will become more apparent as quarterly spending increases by year. COVID response spending as well as vaccine rollout and testing reports range from $350 billion to $400 billion depending on whats being include in “response” and separate vaccination processes. Substantially more than the 274b proposed in the first Stimulus.
The most important thing is that the increased money spent on COVID relief lead to actual implementation so that America can focus helping redistribute wealth and helping those most effected by the Corona Virus. Taxes for the elite, the 1%, and large corporations, especially as the economy opens back up increasing the revenue streams even more – lets not forget crypto currency continues to snatch wealth from the US economy.
A list of Tribal Governments can be searched by agency or account number for more information on outstanding relief package funding and spending. https://www.usaspending.gov. There is light at the end of the tunnel for the Biden administration pertaining to the battle with COVID but still plenty of make or break or decisions that he will face, as well as many of his appointed officials.