Fourth stimulus check | News summary for 15 November
US stimulus checks, Child Tax Credit and Social Security: latest news
We take a look back at the three federal stimulus checks sent out so far in the United States since the outbreak of the coronavirus pandemic.
White House Chief on infrastructure bill and Biden agenda
President Biden will go out on the road tomorrow to raise awareness of the $1.2 trillion infrastructure bill he signed into law on Monday. In recent days support among the public for the legislation has begun to slip under extensive attacks from detractors of the legislation passed with votes from both sides of the aisle.
In July, Governor Gavin Newsom signed into law the California’s budget unleashing funds for a $12 billion tax rebate to eligible residents. The second round of Golden State Stimulus authorized $600 checks, plus $500 for those with a dependent, to around two thirds of residents.
The first batch of payments began hitting bank accounts in late August and new batches will continue through early 2022.
Bipartisan gathering for infrastructure bill signing
President Biden was joined by eight of the 32 Republicans that voted for the infrastructure bill in Congress in addition to numerous Democratic lawmakers from both chambers. A number of state and local officials from both parties, as well as business and labor leaders took part in the celebration on Monday. The $1.2 trillion bill is the largest investment in US infrastructure in nearly seven decades.
Inflation is hitting record levels in the US, driven by both the pandemic recovery and an OPEC oil block, sending the price of gas through the roof.
In a rare moment of bipartisanship in Washington, President Biden signed the $1.2 trillion Infrastructure and Investment Act put together by a group of 21 senators from both parties and passed with support of Democrats and Republicans. The signing ceremony saw state and local officials, as well as lawmakers from both sides of the aisle in attendance at the gathering.
With the Biden’s signature, the largest investment in US infrastructure in nearly seven decades can get underway. According to President Biden, with the legislation, the US will outpace China in infrastructure investments for the first time in recent decades. “We’re on the cusp of an infrastructure decade” Biden said.
For decades, politicians have talked about addressing our nation’s crumbling infrastructure. Today, we are going to deliver.
Our bipartisan infrastructure bill shows that Congress can deliver for the American people when members from both sides of the aisle are willing to work together to address the critical needs of our country.
Reaction from the White House lawn
I had the honor of attending the White House signing of the bipartisan infrastructure bill, a historic investment to create millions of jobs, repair roads & bridges, improve public transit, & more. This is a major victory for working families.
Was so excited to be at the White House today as @POTUS signed the bipartisan infrastructure bill. This historic legislation will move our country forward, create good jobs, make commutes safer and faster, and make us more competitive globally.
A hugely proud & inspiring bill signing at the White House—with some good friends— & a historic milestone for American infrastructure.
Deadline to sign up for Child Tax Credit is today
As well as being the date of the fifth monthly payment of the Child Tax Credit, November 15 also marks the deadline for non-filers to apply for the credit.
At this stage, signing up would entitle you to:
- One month worth of the credit being paid in advance monthly payments,
- You claim the other five months when you file your 2021 income tax return.
Section of Biden's infrastructure bill speech signing released
For too long, we've talked about having the best economy in the world. We've talked about asserting American leadership in the world with the best and safest roads, railways, ports, and airports. Here in Washington, we've heard countless speeches, promises, and white papers from the experts. But today, we are finally getting it done. And my message to the American people is: America is moving again. And your life is going to change for the better.
Republicans speak at the signing of bipartisan bill
Those Republicans who supported the bill, against the wishes of the party despite negotiations, have been targeted with death threats. In all, roughly 18% of congressional Republicans who voted for the popular legislation are attending the afternoon signing.
Without the successful negotiations, the bill would not have been passed, a testament to cross-party unity. The bill is a lot less encompassing than Dems would like, however.
BREAKING: Biden signing infrastructure bill in coming minutes
The much touted bipartisan infrastructure bill, costing more than a trillion dollars, is in the process of being signed as this is written.
It marks the first major policy win for the embattled president, as he seeks to overturn low approval ratings before the crucial midterm elections next year.
Biden confident of Build Back better agenda getting off the ground this week
Congress is on the verge of passing legislation to implement critical parts of President Joe Biden’s Build Back Better initiative.
Negotiations have been long, but it has long been touted that agreement between progressives and moderates is close.
Following all the damage that the pandemic has done to the US economy, the Social Security Administration (SSA) have officially confirmed that there is going to be a record-breaking Cost-Of-Living Adjustment (COLA) coming into effect next year as of January 2022.
Therefore, it is estimated that around 70 million people, who will receive benefits in 2022, will see their monthly aid increased by a 5.9 percent boost. This increase is the biggest year-on-year COLA since 1982, only coming close in 2009 with an adjustment of 5.8.
The reason behind the vast adjustment needed is simple: the pandemic has caused consumer prices to spike, with energy prices rising, as well as water, food, housing and healthcare also going up. The higher the consuming cost, the higher the money needed to cover the expenses.
What's California getting from new bill?
Democrats are heralding the infrastructure bill as a way to create jobs across the nation, including in California. Gov. Gavin Newsom has said the package would accelerate projects that will spawn “thousands” of jobs, many of which will address climate change.
“President Biden understands the need to build a climate-resilient future, and the infrastructure package passed by Congress builds on California’s unprecedented investments to maintain and modernize the state,” Newsom said in a statement.
Erin Logan looks at what California is expected to receive, broken down into each category.
Hillary on Child Tax Credit
Get heard by your representative! That's the message from former presidential hopeful Hilary Clinton.
Among the benefits of this, she points to the 41% reduction in child poverty becoming the norm for the long-term.
Fed focus: getting back to pre-pandemic
Across issues as sensitive as racial employment gaps and as tangled as the path of inflation, that question will figure centrally in Federal Reserve and political debates over where economic and monetary policy should turn next, and whether those policies ultimately mesh or clash with each other.
The Fed's focus is on high inflation it hopes is mostly pandemic related and likely to ease without the need for higher interest rates. President Joe Biden's focus, as we've been reporting, is on a just-passed $1 trillion infrastructure package and a follow-on $1.75 trillion bill focused on education, healthcare and climate change.
"We have been so focused on short-term recovery," said Nela Richardson, chief economist at payroll processor ADP, but "it is not just about going back to where we started, it is really taking stock of where we are and the structural changes that have been produced by covid."
Stimulus checks not a Republican focus
As has been pointed out on numerous occasions, the political divide has resulted in strong stances being taken on a variety of issues and that has included stimulus checks, unfavoured by those on the right generally speaking.
That said, the first ones were issued under President Trump!
What the infrastructure bill means for you
As we reported, the president will be signing into law the infrastructure bill later today. In that there is provision for a boost to funding for roads, bridges and public transportation across the country. And every state is looking to see what that means for them on a local level.
For Ohio, the impending law could mean a whole host of things: Money for Columbus transportation projects, a new bridge to ease congestion on the Brent Spence Bridge, broadband in Appalachia and maybe even Amtrak routes.
Federal and local officials say it's too soon to tell how the money could be spent in the Buckeye State in the coming years, but ground could start breaking on some projects as early as next year.
"These communities are ready for this," Sen. Sherrod Brown said.
Haley Bemiller digs into the detail.
Sign up, sign up: Child Tax Credit
It appears that no matter where you look on social media, well at least if you're interested in these type of things, that someone is reminding you to sign up for Child Tax Credit.
Remember: today is the last day to sign up for this year!
Infrastructure bill: Biden to sign today
In need of a political boost, President Joe Biden will sign a $1 trillion infrastructure bill today at a ceremony expected to draw Democrats and some Republicans who were instrumental in getting the legislation passed.
The measure is expected to create jobs across the country by dispersing billions of dollars to state and local governments to fix crumbling bridges and roads, and expanding broadband internet access to millions of Americans.
The White House said on Sunday that Biden named former New Orleans Mayor Mitch Landrieu to supervise implementation of the infrastructure effort.
The ceremony, scheduled to be held on the White House South Lawn to accommodate a big crowd, represents an increasingly rare case where members of both parties are willing to stand together and celebrate a bipartisan achievement.
The bill had become a partisan lightning rod, with Republicans complaining that Democrats who control the House of Representatives delayed its passage to ensure party support for Biden's $1.75 trillion social policy and climate change legislation, which Republicans reject.
The 13 House Republicans who broke ranks with their party to support the measure have been targeted by former President Donald Trump and some of their own colleagues.
Senate Republican leader Mitch McConnell, who voted in favor of the bill, told Louisville, Kentucky's WHAS radio last week that he was not attending the signing ceremony because he has "other things I've got to do."
The phrase "infrastructure week" became a Washington punch line during Trump's four years in the White House, when plans to focus on investments in America's roads, railways and other transportation were repeatedly derailed.
Now it is Biden who needs some positive momentum as he struggles to address rising inflation and high gasoline prices that have contributed to a drop in his job approval ratings. The Democratic president and his party are eager to show they can move forward on his agenda ahead of the November 2022 midterm elections when Republicans will seek to regain control of both chambers of Congress.
U.S. consumer prices last week posted their biggest annual gain in 31 years, driven by surges in the cost of gasoline and other goods. Republicans have pounced on inflation worries, arguing that the increase reflects Biden's sweeping spending agenda.
Biden's economic advisers defended his policies on Sunday, saying rising inflation was a global issue related to the covid-19 pandemic, not a result of the administration's programs.
"There's no doubt inflation is high right now. It's affecting Americans' pocketbooks. It's affecting their outlook," Brian Deese, director of the White House National Economic
Council, said on NBC's "Meet the Press." "But it's important that we put this in context. When the president took office, we were facing an all-out economic crisis."
Treasury Secretary Janet Yellen and Deese said in separate television appearances that they expect the infrastructure legislation, as well as the $1.75 trillion "Build Back Better" bill, to help bring down inflation.
The "Build Back Better" package includes provisions on childcare and preschool, eldercare, healthcare, prescription drug pricing and immigration.
Deese said he was confident that House Speaker Nancy Pelosi would bring the bill to a vote this week. That will only be a first step, however, as the Senate has not yet taken up the legislation, and Democratic divisions could threaten its chances in that chamber.
California’s Franchise Tax Board continues to send out Golden State Stimulus checks, announcing another 784,000 are on their way to residents.
With Americans quitting jobs in record numbers, many will be wondering whether they will be eligible for unemployment benefits. Many won't be.
The fifth of six monthly Child Tax Credit payments in 2021 is scheduled to go out today, Monday 15 November.
While there haven't been any federal stimulus checks in the US since early 2021, some states are distributing payments to their residents.
We take a look at the three stimulus checks the US federal government has sent out so far during the coronavirus pandemic.
The Senior Citizens League is calling on Congress to send a $1,400 stimulus check to all Social Security beneficiaries to help increase their purchasing power.
As of early October, nearly a third of US adults were having trouble paying usual household expenses. The passage of three federal stimulus checks in 2020 and 2021 went some way to assuaging the financial hardships faced by Americans amid the coronavirus pandemic, and there still remains faint hope for another before the end of the year.
US stimulus checks live updates: welcome
Hello and welcome to our live stimulus checks blog for Monday 15 November, bringing you the latest updates on a possible fourth direct federal payment in the United States, as well as news and information on other related topics, such as unemployment benefits and Social Security payments. We'll also have info on the expanded Child Tax Credit scheme, as part of which the IRS is due to send out the latest monthly payment to eligible households today.