Biden’s Build Back Better plan is right for you. Let me list the ways
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Last week, the House passed the Build Back Better Act. This legislation aims to strengthen our social safety net and also aims to stimulate efforts that weaken the impact of climate change.
Building back better is a good thing, and it should work. (Most predictors say this will be the case with a few changes). This legislation would impact almost all Americans, in a good way.
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Who will it affect and how? And how can it be good? President Joe Biden said “help is on the way”. He is. Below I list who is affected and how it might be good for you.
Businesses large and small will be affected by this law. Wall Street economists believe President Biden’s Build Back Better bill will be a big deal, especially for infrastructure companies. An Oxford Economics analysis shows an expected increase in GDP growth. It also predicts that 750,000 jobs will be added to the economy by the end of 2023.
This law contains measures to fight climate change and protect our environment, such as a $ 900 tax credit for electric bicycles, reduction of dangerous fuels to help national parks and forest conservation. If passed, it will result in a cleaner and safer environment.
Build Back Better would invest $ 1 billion in salmon conservation; projects for Pacific salmon and rainbow trout populations and their habitats. These projects will boost local economies in California, Oregon, Washington, Idaho and Alaska. In addition, the bill will provide tax credits to local media, which will not only lead to more local news coverage, but also more hires, and that means jobs.
It is estimated that 3.4 million Americans would benefit from health insurance thanks to this legislation.
Reimbursable medical expenses are killing the people who will be the majority of our country in just a few years. The bill provides coverage for hearing aids every 5 years, a monthly cap of $ 35 on insulin, and lower prices for prescribed drugs.
It also offers support for home and community care. This would address the long waiting list of people waiting for subsidized home care. According to Time magazine, thousands of seniors and Americans with disabilities have been denied the care they need, including more than 800,000 on the state’s Medicaid waiting lists.
The legislation addresses many issues that parents in our country face on a daily basis. For starters, the law will provide a full year of health care coverage through Medicaid for new mothers. Child tax credits will be extended; or $ 300 per child under six and $ 250 for older minor children.
Child care is a big problem and a big cost for most working families. This law will make child care more affordable, more accessible and increase the revenues of child care providers. This will help parents re-enter the workforce and stimulate the economy. And the bill provides for four weeks of paid vacation.
Rebuild Better has a provision that would provide continuous 12-month eligibility for health care coverage for children. Disruptions in health coverage impact our children and their health. Such deviations were extremely common among Latino and African American children. This means that these children because of this gap have not seen a doctor for a whole year, this provision would change that.
In addition, CHIP, the children’s health insurance program, would be funded on an ongoing basis. Universal kindergarten for all ages 3 and 4 is included in the bill, as is access to free school meals for an additional nine million students and 29 million children will receive $ 65 per month to support their families to pay for their food during the summer.
Help is on the way with this bill for low-income families, providing $ 65 billion to close a backlog of social housing repairs.
Build Back Better will provide $ 500 million to help low-income students and provide financial aid to historically black colleges and universities.
This legislation will give additional help to the unemployed to buy health insurance.
The bottom line is Americans are still living in a pandemic due to Covid-19 and still worrying about paying for groceries, rent, and other necessities. Money is their main concern.
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Building Better won’t just help Americans and their families, but it’s legislation they want — 61% of them. A new Monmouth poll has found that Build Back Better is actually more popular than Congress, the President, or Democrats trying to get it through.
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So yes it is still “the stupid economy” and Build Back Better will improve that for all of us in all walks of life.
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