Monday, March 8, 2021

Ah, hell. We’re going to have another week of useless chin-stroking from people paid way too much money to write vapid doggerel they call “columns” complaining about “cancel culture,” aren’t we? I know it’s too much to ask The New York Times op-ed board to do a little actual work, maybe use their primo outlet to do some good, but I wish they’d do something beyond waste their (and our) time on nonsense.

I guess you can’t blame ’em. Reporting on the passing of Joe Biden’s $1.9 trillion stimulus plan, one of the biggest legislative coups for the Democrats for quite a while, does nothing to advance the horse-race narrative. Nor does it really help the “but what about reaching across the aisle” nonsense as it enjoys almost 70% popularity across the board with voters. They could note that not one Republican voted for the bill despite that broad partisan support and what that actually says about the electorate, or that the biggest sticking point among the people was the lack of a raise in the minimum wage.

But one shouldn’t hold one’s breath, not when there’s “cancel culture” to fret over and conservative intellectuals not being worshipped. Helluva thing. Guy makes six figures a year for basically what I do in three days and he can’t come up with anything with any real meat or substance.

Anyhow. The stimulus bill passed Saturday on a 50-49 vote. One Republican senator – and I’m too lazy to look up who – missed the vote due to a death in the family, so Vice-President Kamala Harris wasn’t needed as a tie-breaker. It’s a pretty intense plan and will go a long way to help lower-income Americans. That’s probably why the columnists don’t like it. Considering how popular Trump’s tax cut was with Republicans, it’s definitely why they don’t like it.

First and foremost, the plan promises $1,4000 to individuals making less than $50,000 with slightly less money going on up to $60,000. This includes not only single people but also couples and dependents. So if you and your spouse pull in less than 150 grand a year, you’ll each get the kitty as well your kids.

This has been the other bone of contention, as Biden originally promised a flat two grand before saying he meant in addition to the $600 Trump have out last fall. Personally, I don’t know, but I do know that one $1,400 check after the year we’ve had will only make a slight dent in most folks’ financial woes.

Luckily, there’s more to it than that. For one, applying and receiving medical insurance aid through the ACA and COBRA will be easier and cheaper, if only for the nonce. The idea is to help folks who’ve lost their jobs keep their insurance since most of us see our ability to not be bankrupt by medical ailments tied into whether or not our employer can’t figure out a way to get out of covering insurance. People on COBRA will see the full cost of their premiums covered through September, which is a pretty good deal.

Along that same lines, states who’ve been battered by the economic implications of the COVID pandemic will get a little bread to help them out, as well. FEMA will get a little boost and money will be set aside to aid in the vaccination program now that we’re up to three different vaccines available. About $350 billion will go to state and local governments while schools will see around $150 billion in aid. There’s also money geared to shoring up pension plans that have taken a hit plus food aid, transit services, child care provides, and so forth.

The child tax credit will also see a nice boost. Parents will see three grand rather than two on their taxes for kids up to 17. It will also make the full credit available for lower-income folks who previously failed to qualify. For the biggest financial anchor apart from medical bills, student loans will see relief. Not only will loan forgiveness be exempt from taxes through 2025 but if your school defrauds you on the loan, it won’t hurt your taxes. A drop in the bucket to be sure, but every little bit helps.

Probably the most encouraging thing I’m seeing is the housing aid and assistance provided by the bill. Most of the $27 earmarked for housing would go to emergency rental insurance, primarily to help those folks who are on the border of getting kicked out due to not being able to make rent. The Coronavirus Relief Fund, set up last summer, will get a cash infusion, and people who qualified could receive assistance for up to a year and a half. There’s a mess of conditions one must meet to get this, of course, but there is a desperate housing crisis and them that know say this will do a decent amount of help.

Maybe the only thing folks were hoping for that didn’t come across was the whole raising the minimum wage from $7.25 to $15, something that is long past due. This was sticking in some Democratic Senators craw and politics being what it is forced its removal from the overall package. However, that fight isn’t over and Joe Manchin, of all people, has been making noise about reworking the filibuster so it’s not an instant bill killer. You’d actually have to put the work in to filibuster and let everyone know where you stand. Furthermore, a number of businesses are seeing the writing on the wall and getting a head start on making sure their workers don’t starve to death.

So, some good news for a change, and it is good news. As GOP-run state governments around the country work to limit the number of voters that might make the mistake of not voting for them, the passing of this bill should be seen as a net positive in a tough world. It’s not perfect by no means and won’t make everything perfect, but it’s definitely a fine example of what government can do for people when it really wants to.

Something to remember.