Jeo Biden to unveil plan to infuse USD 1.5 trillion into pandemic-hit economy

Jan 14 2021 06:03 PM
Jeo Biden to unveil plan to infuse USD 1.5 trillion into pandemic-hit economy

President-elect Joe Biden will unveil a stimulus package proposal on Thursday designed to jump-start the economy during the coronavirus pandemic with an economic lifeline that could exceed USD 1.5 trillion and help minority communities.

Biden campaigned last year on a promise to take the pandemic more seriously than President Donald Trump, and the package aims to put that pledge into action with an influx of resources for the coronavirus vaccine rollout and economic recovery.

The incoming administration will work with Congress on the quick stimulus package after Biden takes charge  office on January 20, although the impeachment of Trump threatens to consume lawmakers in the initial weeks.

The stimulus package has a price tag above USD1.5 trillion and includes a commitment for USD1,400 stimulus checks, according to a source familiar with the proposal, and Biden is expected to commit to partner with private companies to increase the number of Americans getting vaccinated.

A significant portion of the additional financial resources will be dedicated to minority communities. “I think you will see a real emphasis on these underserved communities, where there is a lot of hard work to do,” said another transition official.

 

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