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Determined to lift America out of the worst crisis since the 1930s, future President Joe Biden to Unveil New $ 1.9 Trillion Stimulus Package, which will be followed in the coming weeks by an innovative investment plan.
“We want to move forward as quickly as possible”said a senior source from Biden’s team, who will take office next Wednesday.
The package, which must be approved by Congress, requires that Americans receive a new check for US $ 1,400 per person based on income.
The $ 900 billion plan adopted in December, considered a “down payment” by Biden, I had already put $ 600 in my pocket of each person, subject to income.
But Democrats, unusually aligned with outgoing Republican President Donald Trump, they had demanded $ 2,000.
Additional unemployment assistance, which 18 million Americans still live on, will run through the end of September, as well as the possibility of take paid sick leave in case of COVID-19 infection.
“No American should have to choose between putting food on the table and self-quarantining to prevent the spread” of the virus, according to these senior officials, who requested anonymity.
The text also contemplates extension of the suspension of evictions and mortgage executions of rents until the end of September, as well as the reinforcement of food aid.
These measures were launched in March, as part of the gigantic US $ 2.2 billion stimulus package, the so-called Law cares, which was approved in less than two weeks by Democrats and Republicans, when a first wave of the pandemic hit parts of the country hard.
This Biden plan also provides a device to extend these grants as long as necessary.
Tests and vaccinations
In addition, Biden will propose new measures in relation to covid-19 starting with the accelerating the pace of testing and vaccinations against the virus to allow economic activity to resume.
It is estimated that it will take months so that restaurants, bars, hotels and airlines regain the correct level of activity.
The schools reopening, which are still closed in much of the United States or which students attend only part-time, it is also a priority for Biden.
The future president set himself a 100-day deadline for most schoolchildren to return to school, thus allowing their parents to return to work.
The pandemic took a high price with women, who have had to resign or stop working en masse to take care of their children.
Biden also hopes to raise the minimum wage to $ 15. the hour at the federal level, more than double the current $ 7.25.
A allocation of US $ 350,000 million is intended to enable local and national authorities to maintain the employment of educators, police, firefighters, and public health workers.
But this last measure runs the Risk of arousing the ire of Republicans in the Senate, which had blocked at the end of 2020 any economic support plan, including funds for municipalities.
This may complicate approval of Biden’s plan because Democrats have a very narrow majority in the upper house.
However, the tax increase was not mentioned, planned in his campaign program, for the largest companies in the country and people who earn more than US $ 400,000 a year.
“Well Paying” Jobs
This plan is ambitious but possible, considered the senior managers of the Biden team.
The stimulus plan must respond to the current emergency and prevent the United States and its citizens from sinking further into crisis, and will be followed by an investment plan oriented to economic recovery, whose guidelines will be defined in the coming weeks.
This initiative it will have to create the millions of promised “high paying” jobs by Biden during his campaign, respond to the climate emergency, or even reduce racial inequalities.
It will be Janet Yellen, who is expected to become Secretary of the Treasury, equivalent to a Minister of Economy or Finance, who will lead the negotiations with legislators on behalf of the government.
Although unemployment remained stable in December in the United States, at 6.7%, this is the first time since May that the situation has not improved.
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