The United States Releases Its Bailout Plans | Economie


Annapolis, Maryland, E.U. – Without waiting for the federal government to act, several US states have agreed to their bailout packages, providing hundreds of millions of dollars to companies and individuals to bear the impact of the coronavirus pandemic.

Maryland and California recently agreed to provide aid to the poor, the unemployed, small businesses, and childcare services. New Mexico and Pennsylvania have introduced direct grants to small businesses, and the North Carolina governor is seeking local funding to pay teachers’ fees and provide better internet services in rural areas.

However, the statewide assistance served as an argument for those who argue that the states do not need more federal aid. President Joe Biden’s administration is trying to persuade Congress to pass a $ 1.9 trillion bailout package for state and local governments.

Local rulers and lawmakers insist that the money they approved is aimed at easing the burden on desperate businesses and individuals a year after the pandemic, as many businesses were forced to close.

In Maryland, where checks were sent directly as part of a billion-dollar bailout package, Katrina Jarrett says the grant was critical. Garrett, a 35-year-old single mother who works part-time, says the money will help her pay rent and other bills.

“A lot of people will need it, and it will help many families who were not able to support their children,” said Garrett, who lives in Baltimore with his three children.

Other countries are considering increasing public spending to help their residents. Local governors and lawmakers fear conditions will worsen before Congress approves Biden’s plan. The slow pace of the vaccination campaign has also dashed hopes that vaccination will take place in time to allow businesses to reopen due to virus restrictions.

New Mexico is about to approve a plan to provide $ 200 million in direct grants to companies, which can use the money to pay for mortgage loans or rents. It’s part of a relief plan that would also provide $ 600 tax refunds for low-paid employees, a four-month tax credit for restaurants, and a waiver of licensing fees by liquor stores.

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