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The American Rescue Plan Act of 2021, also called the COVID-19 Stimulus Package or American Rescue Plan, is a US$1.9 trillion economic stimulus bill passed by the 117th United States Congress and signed into law by President Joe Biden on March 11, 2021, to speed up the country's recovery from the economic and health effects of the COVID-19 pandemic and recession. [1]
President Joe Biden's $5.8 trillion fiscal 2023 budget includes nearly $15 billion in discretionary funding for the Social Security Administration, which represents a 14% increase from previous...
After 2033, Americans will receive around 80% of their full scheduled benefits, according to the 2023 Social Security and Medicare Trustees Report. By 2097, this will drop to 74% of their benefits.
The economic policy of the Joe Biden administration, colloquially known as Bidenomics (a portmanteau of Biden and economics), is characterized by relief measures and vaccination efforts to address the COVID-19 pandemic, investments in infrastructure, and strengthening the social safety net, funded by tax increases on higher-income individuals and corporations.
One of the key Biden proposals regarding Social Security is to apply Social Security taxes to those making $400,000 or more. Under this scenario, workers would pay Social Security taxes up to the ...
The Inflation Reduction Act of 2022 (IRA) is a United States federal law which aims to reduce the federal government budget deficit, lower prescription drug prices, and invest in domestic energy production while promoting clean energy. It was passed by the 117th United States Congress and signed into law by President Joe Biden on August 16, 2022.
Social Security is one of the programs that helped shepherd the most vulnerable Americans through the pandemic. When prices started rising in 2021, the country was reminded once again of just how...
President Biden signs an executive order that streamlines the process for social security and Medicare. [149] President Biden signs an executive order for streamlining social security and Medicare: Tuesday, December 14: President Biden delivers a proclamation on Bill of Rights Day. [150]