Left, Right & Center
Joe Biden’s BFD
Josh Barro talks with Megan McArdle and Christine Emba about the $1.9 trillion American Rescue Act, which President Biden signed into law this week.
By Christine Emba • • 1h 0m ListenThe $1.9 trillion American Rescue Act is now law, and to quote then-Vice President Biden, it’s a “big f***ing deal.” President Biden signed it Thursday and addresssed the national about the return to normal. He announced he’s directing states to make all adults eligible for the vaccine by May 1. What’s actually in this giant law? Where will all that money go? There’s a big extension of unemployment that will help workers get through the summer. Direct payments will be distributed to Americans starting as soon as this weekend. There’s also a lot of spending that seems maybe only tangentially related to the pandemic.
The panel talks with Samuel Hammond of the Niskanen Center about the big new payments to American parents that some may be surprised start getting as soon as July. The payments will significantly reduce child poverty, but for now, the payments are in effect for one year. President Biden would like to make it permanent. Should he?
