Overview
At 2:00 AM on Saturday, February 27, Democrats in the U.S. House of Representatives voted to pass a “COVID relief and economic support“ bill at a cost to taxpayers of $1.9 trillion. The next Saturday, Senate Democrats passed a very similar bill, and President Biden stated he will sign it. This will be the sixth “COVID relief” law and swell the tab for such legislation to a total of $5.3 trillion. The combined cost of these laws to every household in the United States will be an average of $41,036.
The House bill also contained a provision to double the federal minimum wage from $7.25 to $15.00 an hour. The Senate rejected this for now, but given that 97% of Congressional Democrats voted for this, it will likely be back on the agenda soon.