As a new batch of stimulus checks makes its way to some Americans’ bank accounts, reports have suggested that the Biden administration is proposing another sweeping economic plan — to the tune of a whopping $3 trillion.
According to The New York Times and The Washington Post, White House officials are preparing to present President Joe Biden with a bill aimed at boosting United States infrastructure, education and jobs, as well as addressing the climate crisis. The outlets, which cited people involved in internal discussions, suggested that the package would be split into two parts: one centered on the development of roads, bridges and other projects, and the other focused on extending the newly expanded child tax credit as well as offering universal prekindergarten and free tuition for community colleges.
Details of the bill, which could face a hurdle in the narrowly divided Congress, emerged just two weeks after Biden signed the $1.9 trillion coronavirus relief package into law — providing eligible individuals $1,400 in direct payments and an extension to the $300 in weekly jobless aid. It also includes money for COVID-19 vaccinations, testing and contact tracing; support for schools and small businesses; as well as funding for rental and food assistance, among other measures.
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The Internal Revenue Service and Treasury Department initiated the first batch of stimulus checks — mostly by direct deposit — on March 12. Yesterday marked the release of the second batch of payments, reported the agencies, with additional payments anticipated on a weekly basis going forward. Americans could see the funds appear in their bank accounts or receive paper checks or prepaid debit cards in the mail as soon as tomorrow.
“Since this new set of payments will include more mailed payments, we urge people to carefully watch their mail for a check or debit card in the coming weeks,” IRS Commissioner Chuck Rettig added in a statement about the new batch of stimulus checks. The agencies did not specify the number of checks included in the second disbursement round, but the first saw about 90 million payments totaling more than $242 billion.
Whether the new $3 trillion proposal will include another round of stimulus checks remains to be seen — although it is unlikely. In January, Biden shared that his American Rescue Plan would be followed by a Build Back Better Recovery Plan, centered on investments in infrastructure, clean energy, manufacturing, skills training and other domestic priorities.
