Joe Biden Set To Jump Start Economy

President-elect Joe Biden has unveiled a $1.9tn stimulus plan for the U.S. economy before assuming office next week.

The coronavirus-plagued U.S. economy has witnessed thousands of business closures and seen millions of people unemployed.

It would include $1tn for households, with direct payments of $1,400 to Americans earning up to $75,000 per year if passed by Congress.

The relief proposal includes $415bn to fight the virus and $440bn for small businesses.

It also includes the extension of enhanced federal unemployment benefits at $400 per week and extending the federal eviction moratorium through September, a major expansion of child tax credits, $350 billion to help state and local governments, and more than $400 billion for schools and vaccinations.

The plan also calls for Congress to raise the minimum wage to $15 and scrap lower minimum wages for tipped workers and people with disabilities.

“No one working 40 hours a week should live below the poverty line,” Biden said.

“During this pandemic, millions of Americans, through no fault of their own, have lost the dignity and respect that comes with a job and a paycheck,” Biden said.  He added that “The very health of our nation is at stake.”

Mr. Biden has called for unity, calm, and a collective effort to beat the pandemic that has killed more than 385,000 people in the U.S.

Readers Bureau

Edited by Jesus Chan

Do you want to add feedback to this story?

Please add a comment in the box below or send an email to info@thereadersbureau.comsend us a message on WhatsApp at 646-874-7976 or Call us at 201-500-7715