WHAT THEY’RE SAYING ABOUT PUBLIC INVESTMENT IN AMERICAN RESCUE PLAN: “SEISMIC SHIFTS IN U.S. POLITICS”

Relief is on the way for millions of Americans as Congress speeds towards final passage of the overwhelmingly popular American Rescue Plan.

Here’s what they’re saying: 

The Washington Post: Biden stimulus showers money on Americans, sharply cutting poverty and favoring individuals over businesses

  • “The roughly $1.9 trillion American Rescue Plan, which only Democrats supported, spends most of the money on low-income and middle-class Americans and state and local governments, with very little funding going toward companies. The plan is one of the largest federal responses to a downturn Congress has enacted and economists estimate it will boost growth this year to the highest level in decades and reduce the number of Americans living in poverty by a third.

    “This round of aid enjoys wide support across the country, polls show, and it is likely to be felt quickly by low- and moderate-income Americans who stand to receive not just larger checks than before, but money from expanded tax credits, particularly geared toward parents; enhanced unemployment; rental assistance; food aid and health insurance subsidies.”

The New York Times: In the Stimulus Bill, a Policy Revolution in Aid for Children

  • “Obscured by other parts of President Biden’s $1.9 trillion stimulus package, which won Senate approval on Saturday, the child benefit has the makings of a policy revolution. Though framed in technocratic terms as an expansion of an existing tax credit, it is essentially a guaranteed income for families with children, akin to children’s allowances that are common in other rich countries.
    […]
    “An analysis by Sophie M. Collyer of Columbia University underscored the plan’s broad reach. She found that in Georgia, the child allowance would bring net gains per child of $1,700 for whites, $1,900 for Latinos and $2,100 for Blacks.”

HuffPost: Democrats’ Relief Bill Shores Up A Million People’s Pensions. That’s A Huge Deal.

  • “The Senate bill, like the version that recently came out of the House, addresses what has become a crisis among multiemployer pension plans. These plans are negotiated between unions and employers in fields where workers tend to change jobs a lot, like construction, trucking and mining. Some of them have fallen into rough shape as industries have changed and union jobs have disappeared.”

The Wall Street Journal: Senate Bill Would Clear Hurdle for Student Loan Forgiveness

  • “A new provision in the Senate Covid-relief bill would remove a key hurdle for the Biden administration to forgive a chunk of Americans’ student debt.

    “The provision, added by Senate Democrats this week, would remove any tax consequences for households whose student debt is forgiven through 2025, saving them thousands of dollars. Federal law typically treats any forgiven debt as taxable income.”

The Washington Post: ‘We need the government’: Biden’s $1.9 trillion relief plan reflects seismic shifts in U.S. politics

  • “‘It’s been a major shift. People have gone from being anti-government, to beyond being even neutral on it, to thinking: ‘We need the government; it has to help us,’ ” said former congressman Barney Frank (D-Mass.), who helped craft Congress’s response to the last financial crisis and Great Recession. ‘You have a new consensus in America — that the government has an important role, and that Ronald Reagan was wrong. For the first time in my lifetime, people are saying that the government has done too little rather than doing too much.’
    […]
    “A Monmouth University poll taken in late February found more than 60 percent of Americans supported the $1.9 trillion measure. More than two-thirds also said they would rather the relief package include $1,400 stimulus checks than see bipartisan support for the effort, Monmouth found. Quinnipiac University found in a poll released in February that Americans supported $1,400 stimulus payments, with 78 percent in favor and only 18 percent opposed.”

###