The Biden era is to unfold soon! Years later, Democrats are to reign the throne and it shall come up with some nuances. For the first time in a decade, Democrats will control both chambers of Congress, as well as the White House. Well, here are some policy shifts that the democrats shall implement. A few that you may be concerned with!
President elect Joe Biden shall swear in to White House on 20th January 2021, Wednesday. Soon after winning the elections he had made his policy pretty much clear that he would not only replace the Trumpian era policies but also to implement aggressive relief toward COVID-19, and several areas of progressive legislation.
According to the revised policies of Biden, any of Biden’s legislative priorities will have to pass through the Senate, which is narrowly Democratic-controlled but still requires at least 10 Republican votes to advance legislation and break a filibuster. Biden’s proposals are likely to pass the Democratic-controlled House.
Here are some of those policies changes may include, how they may be achieved, and what that means to your life:
1. Health care
The first and foremost nuance in Biden’s policy shall be reflected in the health policies.
Biden has said he would raise the subsidies people can use to help them buy coverage through ACA marketplaces. He says no family will have to spend more than 8.5% of their earnings on health coverage because of refundable tax credits for their premiums.
And Americans could further cut down on their out-of-pocket costs because a Biden administration says it will lower the price of prescriptions by negotiating drug prices.
He has also got plans to reverse Trump administration policies that excluded protections for transgender Americans and would likely prioritize expanding access to contraceptives and reproductive health care, including abortion.
2. Economic relief and reversing tax cuts
As the pandemic curve is upsurging day by day the president-elect has plans for economic relief and support.
The unemployment rate in the U.S. has stepped down immensely over the previous year during the pandemic crisis. While Biden’s proposed relief plan aims to address vaccine distribution and issues exacerbated by the pandemic, the proposal also provides a framework to stimulate the economy further. In addition to the $1,400 direct stimulus payments, Biden is also calling for the increase of minimum wage to $15.
Performing a comparison of both the Trump and Biden era, a stark contrast is explicitly visible. Biden has also pledged to reverse Trump’s Tax Cuts and Jobs Act, which passed in 2017. It was the largest overhaul of tax codes in about three decades, and corporate tax rate changed from a tiered tax rate from 15% to 39% to a flat rate of 21%. Many of the tax benefits that were set up to aid individuals and families expire in 2025.
Biden’s tax plan, on the other hand, takes a widely different approach –– pushing higher taxes on corporations and individuals making more than $400k a year. Biden has also promised not to increase taxes for those making less than $400k and provide new and revised tax benefits for low and middle-income families.
In the changing trends of health scenarios, especially in the midst of COVID-19 pandemic the Democratic era has got something in its store for the Nation.
While Trump has at times embraced conspiracy and downplayed the seriousness of the virus, Biden has said he will impress upon Americans the severity of the pandemic and urge precautions.
Biden says getting control of the COVID-19 pandemic will be a top priority as soon as he takes office, along with supporting Americans financially during the economic challenges that have come from the pandemic.
Wearing masks shall be promoted and encouraged, says Biden. He also introduced a $1.9 trillion spending package to speed the distribution of the coronavirus vaccines and provide economic relief. The package proposal includes investing $20 billion in a national vaccination program, $1,400 stimulus checks and expanding unemployment insurance supplements to $400 per week. Some Republicans in Congress have said Biden’s plan is too expensive and misguided.
Apart from these mainstream policies, he has also made amendments in ‘Housing’ where he is to provide a refundable tax credit of up to $15,000 that will help Americans pull together a down payment to purchase a home, shore up rental aid provided by the federal government, and dedicate $10 billion toward expanding a tax credit that spurs the building or revamping of rental housing for low-wage earners.
Considering the Immigration policies, within the first 100 days of his presidency, Biden said he would send Congress a comprehensive immigration reform plan, including a “pathway to citizenship” for the estimated 11 million undocumented immigrants living in the U.S.
One of the main points of contentions immediately facing the Biden administration will be the current state of the border.
While it is true the controversial migrant holding facilities were built in President Barack Obama’s administration, their intended purpose was to hold migrant children for 72 hours before releasing them to federal agencies for placement.
All in all,US shall witness a new rising sun once Biden shall swear in throne.