Joe Biden announces USD 1.9 trillion COVID-19 stimulus plan to revive US economy

Jan 15 2021 06:17 PM
Joe Biden announces USD 1.9 trillion COVID-19 stimulus plan to revive US economy

US President-elect Joe Biden has announced a USD 1.9 trillion coronavirus relief package to tackle the economic fallout from the pandemic, including direct financial aid to average Americans, support to businesses and to provide a boost to the national vaccination programme.

The relief package, announced on Thursday, consists of  USD 415 billion focused on combating the COVID-19 pandemic, over USD 1 trillion in direct aid to individuals and families and USD 440 billion in assistance to businesses.

It further includes  USD 1,400 in additional stimulus cheques to Americans, an extension for key unemployment programmes from mid-March to the end of September and an increase in weekly additional unemployment assistance from USD 300 to USD 400 and increasing the federal minimum wage to USD 15 an hour overtime.

Biden’s proposal also sets aside USD 20 billion for a national vaccination programme and USD 50 billion to scale up coronavirus testing.

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