Updated March 11, 2021, 2:39 p.m. ET

President Biden on Thursday signed the $ 1.9 trillion coronavirus relief package. The colossal bill, known as the American Rescue Plan, allocates money for vaccines, schools, small businesses and anti-poverty programs such as an expanded child tax credit which will mean new monthly payments for many parents.

The House gave final approval Wednesday, after the The Senate made changes to the original bill – some to satisfy Senate budgetary rules and others to gain the support of moderate Democrats.

House Speaker Nancy Pelosi, D-Calif., Had urged Republicans to join House Democrats in supporting the bill, but in the end no GOP member voted for it.

Republicans argued that they had effectively been excluded from the process through reconciliation and that the package is too broad, claiming that only 9% of funds go directly to COVID-19 relief. Minority Parliamentary Leader Kevin McCarthy and Senate Minority Leader Mitch McConnell called the bill a Democratic “wish list”.

Corn Democrats counter that the bill takes a holistic look at the entire U.S. economy and how it has been affected by the coronavirus pandemic.

Senator Angus King, I-Maine, called the wording of the bill by Republicans “nonsense.”

“There are really two elements in this bill. One is directly related to the health crisis, but the other, and the bigger one, is related to the economic crisis that the health crisis has created,” said King. told NPR’s Rachel Martin Monday.

“The main elements of the bill – payments to individuals, long-term unemployment, money for states and towns, money for schools – all of these things were in the COVID package that was passed last year that all Republicans have in mind. voted. So they were OK then, but they’re not doing well now, and frankly, I can’t quite understand that argument. “

One much-discussed proposal that didn’t make the final cut was a minimum wage increase. Progressive Democrats have vigorously pursued the inclusion of a minimum wage increase in this legislation, which would have gradually raised the federal minimum wage to $ 15 an hour by 2025. But the non-partisan parliamentarian of the Senate ruled that the inclusion of such a provision was inconsistent with the complicated rules for budget bills, so it was not reflected in the final legislation.

Here’s a closer look at some of the important provisions of the Senate-amended bill that Biden signed.

Direct payments

The bill allocates funds for a third economic impact payment to eligible Americans.

Individuals earning up to $ 75,000 and couples earning up to $ 150,000 will receive full direct payments of $ 1,400 per person. Individuals will also receive an additional payment of $ 1,400 for each dependent claimed on their tax return.

Senate Democrats have agreed to lower the income threshold at which payments drop from $ 100,000 to $ 80,000 for individuals, and from $ 200,000 to $ 160,000 for couples filing jointly, following requests for moderate democrats.

Unemployment benefit

In the Senate version Biden signed, federal unemployment insurance payments will remain at $ 300 per week – from $ 400 per week in the previous package adopted by the House. The services will run until September 6. The Senate bill makes the first $ 10,200 in unemployment benefits tax-free for households with incomes below $ 150,000.

Child tax credit

The legislation will temporarily extend the child tax credit, increasing the amount to $ 3,000 for children 6 to 17 and to $ 3,600 for children under 6.

The amount is gradually reduced for couples earning more than $ 150,000 and people earning more than $ 75,000 per year. Families eligible for the full credit will receive payments of up to $ 300 per child per month from July through the end of the year.

Congressional Democrats and the White House may want to find a way to make the credit permanent.

Paycheque Protection Program

The bill includes $ 7.25 billion in new money for the small business loan program known as PPP and will allow more nonprofits to apply, including groups that are engage in advocacy and some limited lobbying. It also allows larger nonprofits to be eligible.

Education

There are over $ 128 billion in grants to state education agencies, 90% of which goes to local education agencies, plus $ 39 billion in grants to higher education institutions. Nearly $ 15 billion in funds are channeled into the Child Care and Development Block Grant program to support child care facilities, especially in high need areas.

The Senate version signed by Biden added a provision for any student loan forgiveness spent between December 31, 2020 and January 1, 2026 to be tax-exempt – rather than treating the forgiven debt as taxable income.

Support for low-income families

The law provides $ 4.5 billion for the Low-Income Home Energy Assistance Program, known as LIHEAP, to help families pay for the heating and cooling costs of the House. A provision will give the Secretary of Agriculture the authority and funding to temporarily increase the value of cash vouchers for the Special Supplemental Nutrition Program for Women, Infants and Children (WIC) up to $ 35 per month for women and children for a period of four months. during the pandemic.

There is $ 1.4 billion in funding for programs authorized under the Older Americans Act, including support for nutrition programs, community support programs, and the National Family Caregiver Support Program.

The bill provides $ 37 million for the dietary supplement program for low-income seniors.

Public health

The Centers for Disease Control and Prevention is expected to receive $ 7.5 billion to track, administer and distribute COVID-19 vaccines. An additional $ 46 billion will go to diagnosing and tracing coronavirus infections, and $ 2 billion will go to the purchase and distribution of various testing supplies and personal protective equipment.

Industry support

There are a variety of provisions in the act to provide support to different industries. The Small Business Administration will get $ 25 billion for a new grant program for “restaurants and other food establishments.” Grants will be $ 10 million per entity and $ 5 million per physical location, with a maximum of 20 locations. The legislation sets aside $ 5 billion of the total money that will go to businesses with sales of less than $ 500,000 in 2019. The legislation provides an additional $ 1.25 billion for the Small Business Administration’s Shuttered Venue Operators Grant.

To support the transport sector, legislation allocates nearly $ 30 billion for transport costs, including payroll and personal protective equipment; $ 8 billion for airports; $ 3 billion for a temporary payroll support program to help support the aerospace manufacturing industry; and $ 1.5 billion to recall and pay Amtrak employees who have been laid off due to the pandemic and to restore various daily routes. An additional $ 15 billion will also be allocated to support workers in the airline industry.

Rental assistance

There is $ 25 billion for emergency rent assistance, including $ 5 billion for emergency housing vouchers for homeless people, survivors of domestic violence and victims of human trafficking humans.