Biden’s Relief Proposal To Include $1 Tln In Direct Relief To Households
President-elect Joe Biden unveiled a $1.9 trillion economic stimulus package proposal to lift the U.S. economy as well as its people, badly hit by the coronavirus pandemic.
The relief proposal includes $1 trillion in direct relief to households, $415 billion to fight the pandemic and $440bn for small businesses and worst-affected communities.
In addition to the $600 in direct payments previously announced in a relief bill, stimulus payment checks worth $1,400 would be issued to each individual.
Unemployment insurance was increased by $100 to $400 a week, and would be extended to September, along with a moratorium on evictions and home repossessions..
The incoming government will allocate $50 billion to expand COVID testing and $130 billion to support schools reopen by the spring.
100,000 public health workers will be hired for contact tracing.
In an address to the nation Thursday night on the American Rescue Plan and Build Back Better Recovery Plan in Wilmington, Delaware, Biden urged Congress to hike the federal minimum wage to $15 per hour.
“The very health of our nation is at stake…A crisis of deep human suffering is in plain sight and there’s no time to waste,” Biden said.
He pointed out that since this pandemic began, the wealth of the top 1 percent has grown by roughly $1.5 trillion since the end of last year — four times the amount for the entire bottom 50 percent.
Some 18 million Americans are still relying on unemployment insurance.
Nearly 400,000 small businesses have permanently closed their doors, and an equal number of Americans lost their lives due to the deadly disease.
“There will be stumbles, but I will always be honest with you about both the progress we’re making and what setbacks we meet.” Biden said.
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