Biden Signs $1.9T Stimulus: Here's What NYC Gets From Rescue Plan

NEW YORK CITY — President Joe Biden signed a $1.9 trillion stimulus package that — in an expletive-free paraphrase of his past words — is a big deal for New York City.

The American Rescue Plan coronavirus relief package that Biden signed Thursday provides roughly $6 billion in local aid to the city, $6.5 billion to the cash-strapped MTA and relief for restaurants, small businesses and entertainment venues.

Mayor Bill de Blasio, hours before Biden formally signed it, heaped praise on the package.

"Take stock of this moment, everyone, because it's extraordinary," de Blasio said. "The biggest action by the federal government for the people of this country since the New Deal."

The stimulus passed the House on Wednesday over unanimous Republican opposition, as it did in the Senate.

But New York Democrats echoed de Blasio's lavish praise.

Gov. Andrew Cuomo, in a statement, called the passage of the relief bill "historic" and a crucial step toward revitalizing the nation's economy.

"This legislation confronts the dual health and economic crises created by the war on COVID by providing much-needed relief to lift New York families out of dire economic straits, critical funds to expand and accelerate New York's growing vaccination efforts and targeted relief for state and local governments," he said.

Here's sampling of what's in the bill.

Stimulus Checks
Stop wondering about if a $1,400 stimulus check is coming — the question is now when.

New Yorkers and other eligible individuals across the country could receive checks in their direct deposit accounts the week of March 17, according to CNET. Paper checks could start being mailed the following week.

The checks will go to individuals making $75,000 or less, single parents earning up to $120,000 and couples with household income of less than $160,000.

The maximum amount for the third round of stimulus checks will be $1,400 for any eligible individual or $2,800 per eligible couple filing taxes jointly.

Each eligible dependent — including adult dependents — also will qualify for a payment of $1,400. That means a family of four could receive as much as $5,600 in total.

Child Tax Credit
Another big benefit that could help New York City families is a boost in the child tax credit.

The credit, which is now at a maximum of $2,000, is being raised to as much as $3,600 per child under 6 and $3,000 per child between the ages of 6 and 16 for 2021.

Crucially, it will be paid out in monthly installments starting in this July and will include more low-income households.

As the New York Times recently reported, it amounts to a "revolutionary" income guarantee for families with children.

The expanded credit begins to phase out for those earning $75,000 a year or $150,000 for couples.

A 'Game Changer' For New York City

New York City's government until recently was consumed by talk of service cuts and layoffs.

The bill provides $6 billion in direct aid — a sum that not only close a budget gap, but help the city offer programs like a recently-announced (but arguably still inadequate) taxi medallion relief fund.

De Blasio has called the stimulus a "game changer" for the city — and on Thursday praised Sen. Chuck Schumer, a native Brooklynite, for his support.

"There's funding for vaccines, funding for schools, funding to bring our schools back strong in September, funding to help our restaurants survive and thrive, and the wonderful initiative Save our Stages — which I know was a particular labor of love for Senator Schumer — bringing back Broadway, Off-Broadway, so much of the culture that makes New York City great," de Blasio said.

MTA Relief

Biden's support for mass transit is well-known — and "Amtrak Joe" delivered.

The $6.5 billion going to MTA will avert the draconian cuts that officials warned of for months, Patrick Foye, the agency's chairman, said in a statement.

"Thanks to the leadership of our local champion Senate Majority Leader Schumer, Speaker Pelosi and the bipartisan New York delegation, this significant $6.5 billion in critical federal funding will allow us to focus more on welcoming back riders instead of doomsday budget planning," Foye said.

There's More

The stimulus bill ultimately didn't include a $15 federal minimum wage increase, but it does provide other benefits for hard-hit New Yorkers.

Federal unemployment payments of $300 per week will be extended through Sept. 6. It also has money for child care and assistance for states willing to expand Medicaid coverage for low-income residents.

Patch writer Michael Woynton contributed to this report.