![]() ![]() Congress' Fourth of July recess starts on Thursday and lawmakers won't return until 12 July. Currently the bipartisan deal on infrastructure is just a working framework. Representative Porter said that the Democrats are “wholly-committed” to passing an infrastructure bill but that the bill could be held up in the House as leverage until the reconciliation bill is passed by the Senate. “We are wholly-committed to the infrastructure bill” Rep. Porter cautions that before any hard numbers are put out what exactly goes into the plan needs to be laid out. Reconciliation is the parliamentary procedure that Democrats used to pass the American Rescue Plan allowing them to bypass a Republican veto of the spending bill and pass the legislation with just a simple majority.Ĭurrently there are varying plans for just how big that reconciliation bill could be with Senator Bernie Sanders proposing a $6 billion package. Representative Katie Porter discusses with Lawrence O’Donnell the need for Democrats to use reconciliation to pass broader Biden agenda. "Have to use the reconciliation process to address our economic needs” ![]() The total income coming from unemployment benefits has fallen in recent months from a high of $556.4 billion, after the $300 a week federal topper was sent for the first time, to $458 billion in May as the unemployment rate dropped and benefit claims hit a record low since the pandemic began. If those on unemployment begin working jobs where they make less than they were when receiving benefits, this number will decrease. The second reason relates to the continued movement of people back into the workforce. The first being that in January and March 2021, incomes increased to record levels after the second and third stimulus checks were sent. In April and May, these numbers have begun to decrease, which many economists believe is driven by two factors. The largest increase in recent history, much of this could be driven by the fact that 70% of those on unemployment were making more compared to when they were working. For the same time period in 2021, this figure stood at 22.1 billion dollars. The Department of Commerce defines personal income as "the income received by, or on behalf of, all persons from all sources." This includes wages, social security, unemployment benefits, and more.įrom January to March 2020, before the pandemic really took hold of the US, personal income in the US stood at 18.95 billion dollars. With new data on personal income in May released by the Department of Commerce on 25 June, a clearer picture of the economic recovery is beginning to show. How has personal and disposable income changed throughout the pandemic? You can track your third stimulus check by using the IRS' online Get My Payment tool $10 billion fund for homeowner stimulus checks ( how to apply) Child Tax Credit monthly payments next "opt out" deadline: 2 August IRS has confirmed that the monthly Child Tax Credit payments will begin on 15 July ( full story) IRS has launched: Child Tax Credit Update Portal and Child Tax Credit Eligibility Assistant Over half of states are ending federal unemployment benefits ( full story) Some non-profit organizations continue their push for an additional stimulus check ( full details) Bipartisan infrastructure bill agreed and the inclusion of a fourth stimulus check ( full details) Ending Unemployment benefits is costly and not having desired effect ( full story) Biden walks back comments on infrastructure spending add-ons IRS prompts families to file taxes or, if eligible, use the Non-Filer tool ahead of Child Tax Payment date US Dollar off to firm start as focus shifts to jobs data Workers in Indiana, Maryland and Texas are suing to keep their federal pandemic-related unemployment benefits. Still waiting for your tax refund? Find out when it might be time to contact the IRS. Everything you need to know about the possible "labor shortage." ( Full details) New factors including the delta variant and states ending federal unemployment benefits may impact the possibility of a fourth stimulus check. ![]() IRS launches two new portals to help families manage the Child Tax Credit payments. Will a fourth stimulus check be approved before the end of summer? ( full details) Interest in w ho qualifies, when are payments expected, how many people will receive a check, and what has Gov. California lawmakers vote to approve another round of $600 stimulus checks. Chance of fourth stimulus check by the end of this summer ( Full details) ![]()
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