The House voted 220-211 on Wednesday to approve the Senate’s revised version of President Biden’s $1.9 trillion coronavirus relief package, sending the bill to Biden’s desk to be signed.

Why it matters: The passage of the “American Rescue Plan” is the first — and potentially defining — legislative victory of Biden’s presidency, marking a key milestone in his pledge to steer the U.S. out of the coronavirus crisis.

The big picture: The package is being touted by Democrats as one of the most consequential anti-poverty bills of the modern era, with the nonpartisan Tax Policy Center projecting that it will boost incomes for the poorest 20% of Americans by 20%.

How we got here: The massive spending package was passed via budget reconciliation, a process that allows the Senate to approve legislation with a simple majority vote, rather than the usual 60-vote threshold.

Details: The bill approves $1,400 stimulus payments for individuals making up to $75,000 and couples making $150,000. It will also extend weekly $300 unemployment insurance until Sept. 6. Other highlights include:

What to watch: The White House says Biden will sign the bill on Friday, and that stimulus checks will begin going out before the end of the month.

This content was originally published here.

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