26 February 2021,   01:48
more
Joe Biden Unveils a USD 1.9 Trillion Plan to Stem the Virus and Steady the Economy

Saying the nation faces “a crisis of deep human suffering,” President-elect Joe Biden unveiled a USD 1.9 trillion coronavirus plan to turn the tide on the pandemic, speeding up vaccines and pumping out financial help to those struggling with the prolonged economic fallout.


Called the “American Rescue Plan,” the legislative proposal would meet Biden’s goal of administering 100 million vaccines by the 100th day of his administration, while advancing his objective of reopening most schools by the spring. On a parallel track, he believes it will deliver another round of aid to stabilize the economy while the public health effort seeks the upper hand on the pandemic.


“I know what I just described does not come cheaply, but we simply can’t afford not to do what I’m proposing”, - Biden said in a nationwide address. “If we invest now boldly, smartly and with unwavering focus on American workers and families, we will strengthen our economy, reduce inequity and put our nation’s long-term finances on the most sustainable course”.


His plan includes USD 1,400 checks for most Americans, which on top of USD 600 provided in the most recent COVID-19 bill would bring the total to the USD 2,000 that Biden has called for. It would also extend a temporary boost in unemployment benefits and a moratorium on evictions and foreclosures through September.

MORE HEADLINES