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If Joe Biden becomes the next president in January as expected by most, his vision for stimulus relief may be bigger than a lot of people realize.
He’s already expressed interest in a package valued at $3 trillion which we know will almost certainly not pass a Republican-controlled Senate.
But he also has expressed interest in other measures that could be very valuable to lots of Americans.
One of these is an emergency paid leave for people who are dealing with health complications (from the coronavirus, I believe).
This would cover 100% of weekly salaries or an average weekly earnings that will be capped at $1,400 a week.
So this is a pretty substantial benefit that could be going out.
The eligible recipients would include sick workers, workers caring for family or loved ones, those with increased risk complications from coronavirus, domestic workers, caregivers, give economy workers, and independent contractors.
Also, parents dealing with school closing would be eligible for paid leave as well as child care assistance.
This definitely sounds like a benefit that could be gamed so it will be interesting to see how such a policy would play out in practice.
Would they actually require proof that you have been infected with the virus?
How could that type of system comply with HIPAA laws?
It’s unclear to me just how such a benefit would be administered.
But this is just one aspect of the planned relief related to coronavirus and the administration will likely be pushing for expanded free coronavirus testing, more aid for local and state governments, and some other benefits.
As for stimulus checks, many still assume that Biden will support more checks, likely in the same amounts that we saw before but we don’t know.
If you recall, over the summer Kamala Harris was one of the senators who supported giving a $2,000 a month stimulus check for several months.
In some cases, some families could qualify for as much as $10,000 per month!
That was a pretty extreme plan that was wayyyy beyond anything Republicans would even consider.
But it shows where Kamala Harris’s head is in terms of stimulus relief.
So when it comes to putting a cap on the next stimulus checks, a Biden administration would likely be on the higher end of that cap.
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Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.