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Friday, Mar 05, 2021

What's inside Joe Biden's $1.9 trillion pandemic recovery plan?

US President-elect Joe Biden announced a $1.9 trillion (€1.56 trillion) stimulus package on Thursday to revitalize a flagging economy and speed up the nation's response to the coronavirus pandemic. Biden laid out the first of his "two-step plan of rescue and recovery" in a prime-time address.The spending proposal will build on the two massive relief packages approved by Congress in 2020.
It lists a host of measures including providing financial aid to individuals, state and local government, and businesses struggling with the prolonged economic fallout:

- Stimulus payment checks for $1,400 – topping up the $600 checks issued under the most recent COVID-19 bill

- Raises the minimum wage to $15 an hour

- $350 billion in funding to state and local governments — a proposal that Republican lawmakers had blocked all last year

- $160 billion for a national COVID-19 vaccination campaign

- About $440 billion for small businesses and communities particularly hard hit by the pandemic

- $170 billion for schools, with the goal of getting most institutions serving kindergarten through eighth grade open in the first 100 days of his administration

- Increases supplemental unemployment insurance to $400 a week from the current $300 a week now; also extending it through September

- Extends moratoriums on foreclosures and evictions until September and funding rental

- Provides $30 billion in rental and utility assistance for families
Comments

Oh ya 48 days ago
Sure sleepy go ahead and when nobody buys your government bonds and the USD crashes it will look good on your watch. Trump is the luckiest guy to not get relected he just does not realize it yet. The US financial world is going to come crashing down as all this money he is going to give away is not free.

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