WILMINGTON, United States: President-elect Joe Biden will propose injecting $1.9 trillion into the US economy when he takes office next week, as evidence mounts that the recovery from the sharp downturn caused by Covid-19 is flagging.
With his fellow Democrats narrowly controlling both houses of Congress, Biden has a shot at passing what would be the United States’ third massive pandemic aid package. Dubbed the American Rescue Plan, the proposal released Thursday includes a host of measures aimed at revitalizing the world’s largest economy.
Biden aims to raise the federal minimum wage to $15 an hour, help struggling state and local governments, safely reopen schools, roll out a massive Covid-19 vaccination campaign and raise the size of stimulus checks Congress approved last month. “The return on these investment in jobs, racial equity will prevent long-term economic damage, and the benefits will far surpass the cost,” Biden said during a speech in Wilmington, Delaware.
Source: The News