( CBS Detroit ) — A third stimulus check is now one step closer to reality. The Senate recently passed a $1,400 relief payment, as part of President Biden’s $1.9 trillion economic relief package. The American Rescue Plan aims to counter the economic fallout from COVID and stabilize the economy. It has broad support among Democratic and Republican voters, though no Republican Senators voted in favor of it. The modified package, which returns to the House for another vote, also contains extended unemployment benefits, an improved child tax credit, and much more. While a third check seems destined for bank accounts, the specific timeline is still coming into focus. When Could My Stimulus Check Arrive? The administration is still set on signing the American Rescue Plan into law by March 14 . That is the day when the current $300 federal unemployment benefit bonus expires. Assuming President Biden signs the relief package this coming weekend, direct deposits would likely start the … [Read more...] about Stimulus Check Update: When Might Your $1,400 Economic Relief Payment Arrive?
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John McCain kills the “skinny repeal” of the Affordable Care Act on July 27, 2017. Photo: AP/YouTube There’s been a lot of justified talk about how the Biden COVID-19 stimulus bill that passed the Senate over the weekend represents one of the largest expansions of federal assistance to low-to-moderate-income families since, well, pick your precedent, from a list that includes FDR’s New Deal and LBJ’s Great Society. The bill’s ultimate legacy, of course, will be determined later. Will its many temporary provisions (notably, boosts in the child tax credit and the Earned Income Tax Credit) be made permanent? And what will follow it as the Biden administration’s next act, which will presumably address the broad outlines of the health-care system and anti-poverty programs? But even at this preliminary stage of the 46th presidency, we’re seeing quite the turnaround from the social-policy trajectory of the 45th. Just 1,320 days ago, the Trump-and-congressional-Republican plan to … [Read more...] about The Four-Year Swing That Saved America’s Safety Net
The unemployment rate could drop to 4.1 percent or even lower this year, according to a Goldman Sachs forecast released late Sunday night. "The main reason that we expect a hiring boom this year is that reopening, fiscal stimulus, and pent-up savings should fuel very strong demand growth," the economic research note from the firm said. It added that it was possible the rate could dip to below 4 percent. The research outlook suggests that as the virus recedes, many of the industries that have been stuck in limbo such as leisure and hospitality will spring back to life, and workers who have been on the sidelines will make their way back to the job market. ADVERTISEMENT Ultimately, the bank forecasts that unemployment will drop to 3.2 percent by 2024. If that were to happen, it would surpass the 50-year record set in the Trump administration, notching a significant win for President Biden Joe Biden Lawmakers, activists remember civil rights icons to mark 'Bloody … [Read more...] about Goldman Sachs projects jobless rate falling to 4.1 percent
Late-night hosts and pundits were quick to poke fun at the Texas power system when scenes of winter storm devastation there began rolling in. But the challenges facing Texas are not unique to Texas. Similar organizations control electricity in much of the country, and utilities everywhere face damage from severe storms. The struggles facing Texas today could be yours tomorrow. So, what can we learn from Texas’s woes? Reliability isn’t always rewarded Wholesale power markets serve about 60 percent of the United States. These markets, where power companies compete to sell their electricity, incentivize low-cost production. Companies offer their electricity, typically at a price per hour, on exchanges run by operators like Texas’s ERCOT. Those operators figure out how much electricity is needed across the regions they serve and choose the lowest-cost bidders to supply it — meaning power generators have an incentive to bid low and sell as much electricity as possible. … [Read more...] about Three things every state can learn from the Texas utility meltdown
Presented by the National Shooting Sports Foundation Welcome to The Hill’s Morning Report. Today is Monday and it is International Women’s Day ! We get you up to speed on the most important developments in politics and policy, plus trends to watch. Alexis Simendinger and Al Weaver are the co-creators. Readers can find us on Twitter @asimendinger and @alweaver22. Please recommend the Morning Report to friends and let us know what you think. CLICK HERE to subscribe! Total U.S. coronavirus deaths reported as of this mornin g: 525,035. As of this morning, 17.2 percent of the U.S. population has received at least one dose of a COVID-19 vaccine and 9.2 percent are fully vaccinated, according to the Bloomberg News global vaccine tracker . The Biden administration’s $1.9 trillion COVID-19 relief package is on the verge of becoming law, pending action by the House and White House in the coming days, as health experts warn that … [Read more...] about The Hill’s Morning Report – Presented by the National Shooting Sports Foundation – Relief bill to become law; Cuomo in trouble