Economic stimulus checks for $ 1, 400 to complete the help of $ 600 already granted, and unemployment benefits are at the center of the plan revealed by Biden
Photo: JIM WATSON / AFP / Getty Images
President-elect Joe Biden announced from Delaware on Thursday details of a $ 1.9 trillion coronavirus economic rescue package s designed to support families and businesses, as well as local and state governments, during the coronavirus pandemic.
“We need to address the economic crises and of public health that we face. That is why today I announce my American Rescue Plan. Together we will change the course of the pandemic, build a bridge to economic recovery and invest in racial justice ”, said Biden in his speech.
Biden’s proposal, called the American Rescue Plan, includes several stimulus measures that are expected to help sustain American families and businesses until the Covid vaccine – 20 is widely available.
This is what Biden proposes:
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- Direct payments of $ 1, 400 dollars to most Americans, bringing total relief to $ 2, 000 dollars, including payments of $ 600 made in December
- Increase the federal weekly unemployment benefit to $ 388 dollars and extend it until the end of September
- Increase the federal minimum wage to $ 15 Dollars per hour
- Extend moratoriums on eviction and foreclosure until the end of September
- $ 350 billion in state and local government aid
$ 170 billion for schools and institutions of higher education K – 12
- $ 50 Billion for Covid Testing – 19
- $ 20 billion for a national vaccine program in partnership with states, localities, and tribes
- Make the Child Tax Credit fully refundable during the year and increase the credit to $ 3, 000 dollars per child ($ 3, 600 for a child under 6 years)
The plan is the first of two major spending initiatives that Biden will pursue in the first months of his presidency , as reported by senior officials of his transition team.
Direct cash payments.
Extended unemployment.
Rent relief.
Food assistance.
Aid to small businesses.
Keeping essential frontline workers on the job.
Those are the key elements of my American Rescue Plan.
– Joe Biden (@JoeBiden) January 15, 2021
Biden’s second bill , expected in February, will address the president-elect’s long-term goals to create jobs, reform infrastructure, combat climate change and promote racial equity.
Senior officials Biden’s transition team, who have been working on the stimulus plan for weeks, also confirmed that the president-elect also supports $ 01, 000 dollars for the forgiveness of student debt.
Biden formally introduced this plan Thursday in a speech from Wilmington, Delaware.
Democratic congressional leaders quickly applauded the measure and declared themselves ready to back it.
The Speaker of the House of Representatives, Nancy Pelosi, and incoming Senate Majority Leader, Chuck Schumer , expressed it in a joint statement.
Read my full statement with @SenSchumer here: https://t.co/mrdi87 pwv6
– Nancy Pelosi (@SpeakerPelosi) January 14, 2021
“With the COVID rescue package that announced today the President-elect, he is moving swiftly to deliver that aid and meet the needs of the American people. House and Senate Democrats express their gratitude and look forward to working with the president-elect on the rescue plan, ” said Pelosi and Schumer in a press release.
The proposed economic stimulus for the coronavirus pandemic presented by Biden awaits revive the economy and promote mass vaccination against Covid – 19 when the country hardest hit by the pandemic reaches more than 23. 3 million positive cases and 350, 461 deaths, according to independent count from Johns Hopkins University.
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