This week, Congress approved the latest coronavirus relief package to the tune of $1.9 trillion. This package is largely based off President Biden’s proposal; however, it excludes some principal policy priorities of the Biden administration, including an increase in the minimum wage to $15 per hour.
Some significant provisions within the package include:
In addition to these and other funding items, the bill includes a number of healthcare-related provisions such as subsidies for health insurance for the unemployed and encouraging states to expand Medicaid under the Affordable Care Act (ACA). This would be the first expansion of ACA subsidies in over 10 years. Finally, the bill includes provisions to aid multi- and single-employer pension plans to avoid insolvencies.
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