Source: The Washington Post
The relief measure includes a new round of up-to $1,400 stimulus checks for millions of Americans, $350 billion for cash-strapped cities and states, $130 billion for schools, and other sizable sums for a wide array of programs including food assistance, rental relief and coronavirus vaccine distribution. The bill also authorizes an additional $300-per-week in unemployment payments until early September, trimming the amount that House Democrats initially had approved earlier in the month.
This is interesting. The bill is popular. Economists all seem to think something is necessary, but are divided on whether or not this will cause inflation to kick in. Previous bills have been too small. This may just be the ticket.
This stimulus, coupled with a wealth tax or a tax bracket increase, should also begin to bring down a whopping deficit.