President Joe Biden signed the $1.9 trillion American Rescue Plan into law Thursday afternoon as Democrats celebrated the package as one of the most consequential anti-poverty efforts in recent history. After a long battle with GOP lawmakers who resisted additional spending, Democrats pushed through legislation they said was essential to help struggling Americans during the Covid-19 pandemic and boost the economy’s long-term prospects. The Organization for Economic Cooperation and Development said this week that thanks to the massive relief package and rapid pace of vaccinations, it now expects the U.S. economy to recover twice as fast as previously thought.

Biden’s stimulus package coincides with the one year anniversary of the Covid-19 pandemic that stifled the U.S. economy, destroying more than 20 million jobs and tanking GDP by historic proportions. It’s the sixth relief bill from Washington since last March, the largest of which was the $2.2 trillion CARES Act. The American Rescue Plan includes $1,400 payments to eligible Americans, $300 weekly unemployment benefits, rental assistance

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How The $1.9 Trillion Stimulus Could Help You | Forbes