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Individuals earning less than $75,000 a year and married couples earning less than $150,000 will receive $1,400 per person, including children. That will get money to about 90% of households.

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The Senate passed its version of the $1.9 trillion American Rescue Plan on Saturday (March 6). The pandemic relief bill now goes back to the House of Representatives, which must approve the Senate’s changes before it can go to President Joe Biden’s desk.

This bill is massive. It's costly, and it's likely the last installment in a series of stimulus packages that bolstered the American economy through the worst pandemic in a century.

The Senate bill amends the House bill on the $1,400-per-person stimulus payments to tighten eligibility.

Individuals earning less than $75,000 a year and married couples earning less than $150,000 will receive $1,400 per person, including children. That will get money to about 90% of households.

The checks will phase out faster than previous rounds, completely cutting off individuals who earn more than $80,000 a year and married couples earning more than $160,000 -- regardless of how many children they have.

The bill passed by the House set the income caps at $200,000 for couples and $100,000 for individuals. The Senate change leaves out about 7 million families, according to an estimate from the Penn Wharton Budget Model.

Unlike the previous two rounds, adult dependents -- including college students -- are expected to be eligible for the payments.

In addition to the direct payments for most Americans, here are other elements of the nearly $2 trillion relief package:

Unemployment assistance

The Senate and House bills call for extending two key pandemic unemployment programs through August 29. They would also increase the federal weekly boost to $400, from the current $300, and continue it for the same time period.

Some senators were looking to reduce the federal enhancement to $300 a week and to add another month onto the pandemic jobless programs. But those efforts were unsuccessful.

Both bills would lengthen the duration of the Pandemic Unemployment Assistance program to up to 74 weeks, from 50 weeks, and the Pandemic Emergency Unemployment Compensation program to 48 weeks, from 24 weeks.

The former provides benefits to freelancers, gig workers, independent contractors and certain people affected by the pandemic, while the latter increases the duration of payments for those in the traditional state unemployment system.

The President's plan had called for continuing the benefits through the end of September.

Out-of-work Americans will start running out of Pandemic Unemployment Assistance and Pandemic Emergency Unemployment Compensation benefits in mid-March, when provisions in December's $900 billion relief package begin phasing out.

The $300 enhancement also ends in mid-March.

Minimum wage

The Senate bill will not include an increase in the federal minimum wage, which House Democrats proposed raising to $15 an hour.

The parliamentarian ruled in late February that increasing the hourly threshold does not meet a strict set of guidelines needed to move forward in the reconciliation process, which would allow Senate Democrats to pass the relief bill with a simple majority and no Republican votes.

The House legislation would increase the federal minimum wage to $15 an hour by 2025 in stages. It would also guarantee that tipped workers, youth workers and workers with disabilities are paid the full federal minimum wage.

Aid to states and municipalities

The Senate and House differ on how much aid they would provide to counties and cities, but both chambers contain the same infusion of funding for states, tribes and territories.

The bills would provide states and the District of Columbia with $195.3 billion, but counties and cities would share $120 billion in aid in the Senate bill, $10 billion less than in the House version.

Tribes would get $20 billion and territories $4.5 billion under both bills.

The Senate version of the bill also slightly revises the formula to help states with smaller populations and boost the minimum they will receive. And it contains a $10 billion Coronavirus Capital Projects Fund for states, territories and tribes.

Overall, both bills would funnel a total of $350 billion to states and municipalities.

Additional assistance to states has been among the most controversial elements of the congressional rescue packages, with Democrats looking to add to the $150 billion in the March legislation and Republicans resisting such efforts. The December package ultimately dropped an initial call to include $160 billion.

Nutrition assistance

The Senate and House plans both extend the 15% increase in food stamp benefits through September, instead of having it expire at the end of June.

They also contain $880 million for the Special Supplemental Nutrition Program for Women, Infants, and Children, known as WIC, to help increase participation and temporarily improve benefits, among other measures. Biden called for investing $3 billion in the program.

And they would allow states to continue the Pandemic-EBT, which provides families whose children's schools are closed with funding to replace free- and reduced-price meals the kids would have received, through the summer.

Housing aid

Both bills would send roughly $20 billion to state and local governments to help low-income households cover back rent, rent assistance and utility bills.

About $10 billion would be authorized to help struggling homeowners pay their mortgages, utilities and property taxes.

The bills would provide $5 billion to help states and localities assist those at risk of experiencing homelessness and another $5 billion for emergency housing vouchers for those who are homeless.

Tax credits for families and workers

Both the House and Senate legislation beef up tax credits for families and certain low-income workers for 2021.

In an effort to combat poverty, lawmakers would expand the child tax credit to $3,600 for each child under 6 and $3,000 for each child under age 18. Currently, qualifying families can receive a credit of up to $2,000 per child under age 17.

The credit would also become fully refundable so more low-income parents could take advantage of it. Plus, families could receive payments monthly, rather than a lump sum once a year, which would make it easier for them to pay the bills.

The bills also enhance the earned income tax credit for workers without children by nearly tripling the maximum credit and extending eligibility to more people. The minimum age to claim the childless credit would be reduced to 19, from 25, and the upper age limit would be eliminated.

This would be the largest expansion to earned income tax credit since 2009.

Optional paid sick and family leave

Unlike Biden's initial proposal, neither bill would reinstate mandatory paid family and sick leave approved in a previous Covid relief package. But they continue to provide tax credits to employers who voluntarily choose to offer the benefit through October 1.

Last year, Congress guaranteed many workers two weeks pay if they contracted Covid or were quarantining. It also provided an additional 10 weeks of paid family leave to those who were staying home with kids whose schools were closed. Those benefits expired in December.

Education and child care

Both the Senate and House bills would provide nearly $130 billion to K-12 schools to help students return to the classroom. Schools would be allowed to use the money to update their ventilation systems, reduce class sizes to help implement social distancing, buy personal protective equipment and hire support staff. Both bills would require that schools use at least 20% of the money to address learning loss by providing extended days or summer school, for example.

While the money provided by the House bill would go to both public and private schools, based on the number of low-income students enrolled, the Senate bill specifically carves out about $2.75 billion for private schools.

The bills are in line with what Biden proposed, but call for more than six times the amount of funding for K-12 schools than a compromise plan offered by a small group of Republican senators.

The Senate and House plans both include nearly $40 billion for colleges.

Altogether, $170 billion would be authorized for K-12 schools and higher education. Last year, Congress approved a total of $112 billion between two relief packages that went to K-12 schools and colleges.

The bills would also provide about $39 billion to child care providers. The amount a provider receives would be based on operating expenses and is available to pay employees and rent, help families struggling to pay the cost, and purchase personal protective equipment and other supplies.

Health insurance subsidies and Medicaid

Both the Senate and House bills would make federal premium subsidies for Affordable Care Act policies more generous and would eliminate the maximum income cap for two years.

Enrollees would pay no more than 8.5% of their income towards coverage, down from nearly 10% now. Also, those earning more than the current cap of 400% of the federal poverty level -- about $51,000 for an individual and $104,800 for a family of four in 2021 -- would become eligible for help.

In addition, the bills would bolster subsidies for lower-income enrollees, eliminating their premiums completely, and would do the same for those collecting unemployment benefits in 2021.

But the Senate bill provides more assistance than the House version to those who were laid off but want to remain on their employer health insurance plans through COBRA. The Senate calls for picking up the full amount of the premium, while the House would only cover 85%, leaving the former employee to pay 15%.

Both chambers would extend these subsidies through September.

Also, the Senate retains the House provision that seeks to entice states that have yet to expand Medicaid to low-income adults to do so by boosting their federal Medicaid matching funds by 5 percentage points for two years.

More money for small businesses

Both bills would provide $15 billion to the Emergency Injury Disaster Loan program, which provides long-term, low-interest loans from the Small Business Administration. Severely impacted small businesses with fewer than 10 workers will be given priority for some of the money.

They also provide $25 billion for a new grant program specifically for bars and restaurants. Eligible businesses may receive up to $10 million and can use the money for a variety of expenses, including payroll, mortgage and rent, utilities and food and beverages.

The Paycheck Protection Program, which is currently taking applications for second-round loans, would get an additional $7 billion and the bills would make more non-profit organizations eligible.

Another $175 million would be used for outreach and promotion, creating a Community Navigator Program to help target eligible businesses.

Vaccines and testing

The Senate and House bills provide $14 billion to research, develop, distribute, administer and strengthen confidence in vaccines. They would also put $46 billion toward testing, contact tracing and mitigation, including investing in laboratory capacity, community-based testing sites and mobile testing units, particularly in medically underserved areas.

Both chambers would also allocate $7.7 billion to hire 100,000 public health workers to support coronavirus response.

The Senate and House legislation also provide $50 billion to the Federal Emergency Management Agency, with some of the funds going toward expanding vaccination efforts.

The President's plan called for investing $20 billion in a national vaccination program.

Rural hospital assistance

The Senate bill allocates $8.5 billion to help struggling rural hospitals and health care providers.

The House bill did not provide any additional funding for hospitals or nursing homes, which received assistance in previous relief packages.

This story has been updated with additional details from the Senate bill.

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