President Biden has now been in office for roughly 100 days, which is a crucial period of time for a new commander-in-chief to prove themselves. Many promises were made on the campaign trail, and now it’s time to see what has been delivered on. Let’s take a look at President Biden’s first 100 days as president.
Biden’s proposed plan for health and economic recovery included distributing 100 million vaccines, $1,400 stimulus checks, and expanded unemployment benefits.1 As of now, 213 million doses have been distributed and 26.3% of the U.S population is fully vaccinated.2 The $1,400 stimulus checks were approved and began being distributed in February but some people still have yet to receive them. Many unemployment options have also been made available such as the American Rescue Plan Act, which authorizes:3
One of Biden’s promises was to only raise taxes on those making $400,000 or more a year. However, “it’s not clear if the $400,000 threshold will be applied per individual or per family.”4 There are still many questions left as to how tax changes could affect the nation, and it will take more time to determine the impact.
President Biden signed several executive orders in regard to health care in January. A special enrollment period was opened for Americans to sign up for health care coverage and to strengthen the Affordable Care Act and Medicaid.5 “Significant changes to eligibility requirements for people in the 12 states that have not expanded the program would likely require congressional action, experts say.”6 Biden is likely to continue pushing for change to our health care system.
While no one person is directly responsible for the economy, the president does play a role. The COVID-19 pandemic brought on a difficult period for our country, but we have seen some recovery since last year. Stocks have been hitting record highs from December 2020 to March 2021, but many people question if a market correction is on the horizon. While we still have a way to go, it seems we are making progress. We will have to see how the president’s plans will continue to impact the economy in the future.
Only so much can be done in 100 days. It’s obviously too soon to get a completely accurate depiction of what Biden’s presidency has in store, but we do have a preview. There is still much work to be done and we will continue to monitor the promises and deliveries of this new administration. We are also here to provide added insight through our retirement courses!
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