$1.9 Trillion Rescue Bill Hinged On Just 9 Votes
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That’s how many votes it came down to Wednesday when the American Rescue Plan was narrowly approved by Congress, ensuring the government’s check printers will fire up once again to send a cascade of cash to American households.
The House of Representatives approved the Senate’s version of the $1.9 trillion rescue bill in a 220-211 vote, sending it to the desk of President Joe Biden, who has said he will sign it Friday. It was an entirely Democratic project from beginning to end, with no Republicans voting for the bill at any point in its progress through either chamber of Congress.
The relief package will send stimulus checks of up to $1,400 per taxpayer and $1,400 per dependent, benefiting an estimated 280 million adults and children, according to estimates from the Institute on Taxation and Economic Policy, a nonpartisan nonprofit. Together with the ramped-up rollout of COVID-19 vaccines, the relief package is set to provide the economy with a massive shot in the arm, many forecasters predict, though not without the risk of stoking inflation.