Moneda Moves (83): What kind of independence will Americans be able to afford by July 4?
Last night, President Biden made his first prime-time address on national television — a historic one at that. Not only was this done after signing a significant $1.9 trillion stimulus package, he announced action items for the U.S. to tackle Covid-19 and made a point to “mark our independence from this virus” by 4th of July.
And while the idea of it sounds hopeful, there are so many Americans still coping with the fallout and loss from the pandemic: Lives, business, jobs, savings, homes impacting people at disproportionate rates.
This is not an equal opportunity pandemic.
So, the question remains: How will Americans be able to claim their independence from both a health and financial perspective in the months and years to come?
We start by taking a look at $1.9 trillion stimulus package — one of the most significant pieces of legislation of its kind. The stimulus checks are only the start. You can read the detailed breakdown here which includes:
Unemployment: $300 federal boost to weekly jobless payments through 9/6
State and local aid: The legislation offers $350 billion
Nutrition aid: The package extends the 15% increase in food stamp benefits through September
Housing assist: The bill sends roughly $20 billion to help low-income households cover back rent and $10 billion to help struggling homeowners
Tax credits for children: Expanded child tax credit to $3,600 for every child under 6 and $3,000 for every child under age 18
Education: The bill provides $125 billion to public K-12 schools to help students return to the classroom
Small businesses: The bill provides $15 billion to the Emergency Injury Disaster Loan program and another $7 billion for the Paycheck Protection Program
Vaccines: $14 billion will go towards distribution, development and research for vaccines
Hospital aid: $8.5 billion dedicated to helping rural hospitals and health care providers
Other critical pieces of information announced at the address, as summarized by The New York Times included:
Biden directed states to make all adult Americans eligible for vaccine by May 1.
He emphasized a “massive effort to reopen our schools safely” as a number one priority.
Biden condemned hate crimes against Asian-Americans.
The President promised to increase accessibility for shots.
He urged all Americans to “do your part” and get vaccinated as soon as eligible, helping family get to a local distribution center. He also announced that the administration would offer further guidance on what they can and cannot do when they receive the vaccine in weeks to come.
Onto more of this week’s headlines.
Con poder,
Lyanne
Headlines to put on your radar.
Latina in VC says experience is 'lonely, inspiring, and empowering': When she first started in venture capital just six years ago, Noramay Cadena told Yahoo Finance there were less than 10 Latinas at the partner level in the country. And today? Twice as many.
Cadena runs a VC firm, Supply Change Capital, which focuses on food and food systems and focusing on amplifying diverse entrepreneurs.
"My partner and I are really committed to investing in the diverse entrepreneurs who are going to create that next generation of iconic brands we'll find at the supermarket." We appreciated this profile on Latinx in venture capital. (Yahoo Finance)
How a 25-year-old first-generation immigrant making $62,000 a year in New York spends her money💵: We’ve seen so many of these profiles that illustrate how individuals spend their money, so it was important to see Maria Melchor, of the platform FirstGenLiving sharing her own relationship with money in a national outlet. (CNBC)
Rising voices in business, fintech, entrepreneurship and beyond.
Moneda Monday: Alejandra Aguirre, Owner and Co-Founder of Cadena Collective🔗: We continue celebrating mujeres making money moves and jefas the same here on Moneda Moves.
In the #MonedaMonday this week, we introduce you to Alejandra Aguirre, owner of Cadena Collective, a business bringing you a bicultural experience. Founded by a first-generation college graduate and a war veteran, the owners honor their parents’ journey in an unknown country and celebrate their culture through the collective’s (all women) artisanal pieces.
From Cadena Collective’s website: “Cadena is the Spanish word for chain. It is our belief that women are not bound by societal chains or expectations of the roles they should play in the modern age. When women unite like chains, they are stronger, powerful and more resilient.”
Right now, we are also loving the campaign they have beautifully created to educate on Mexican history:
Thank you for joining us! Until next Friday, catch us here on Moneda Moves.