Video: The U.S. House of Representatives on March 10, 2021 approved the final version of the 1.9-trillion-U.S.-dollar COVID-19 relief bill, sending it to President Joe Biden's desk for his signature. (Xinhua) U.S. President Joe Biden plans to sign the relief package into law on Friday. WASHINGTON, March 10 (Xinhua) The U.S. House of Representatives on Wednesday approved the final version of the 1.9-trillion-U.S.-dollar COVID-19 relief bill,.
In recent weeks, some mainstream media figures and outlets have pushed outdated arguments for austerity and misguided calls for bipartisanship in covering the $1.9 trillion COVID-19 relief package which is expected to clear Congress this week putting the onus for GOP obstruction on Democrats and emphasizing debt and inflation concerns that economists say are unwarranted amid a historically devastating crisis.
Some in the media have emphasized the lack of Republican support for the relief bill, suggesting that Democrats should have done more to get GOP votes. Yet, the proposal which includes $1,400 stimulus checks, extended unemployment benefits, child allowances, state and local aid, and resources for vaccine distribution and health care has widespread, bipartisan support. According to a recent poll by Politico and Morning Consult, 76% of voters approve of the bill, including 60% of Republicans. Polls have also indicated that voters favor a strong relief package over
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The intensifying debate comes as the Senate is poised to pass the measure as early as this week, sending it back to the House for possible final passage next week. With the finish line in sight, some economists are sounding the alarm, particularly after financial markets signaled unease with the possibility of inflation on the horizon.
“To say he’s taking a risk would be an understatement,” said Desmond Lachman, an economist at the right-leaning American Enterprise Institute and former deputy director at the International Monetary Fund.
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For Biden, the relief package and its key components stimulus checks, increases to child and earned income tax credits, emergency unemployment benefits could set the tone for his presidency.
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