President-elect Joe Biden has proposed a relief package worth USD 1.9 trillion to not only cover vaccination, but also provide urgent economic support to millions of Americans struggling to keep the roof over their heads and put food on the table.
“Through 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,” said Biden while delivering a speech in his home state of Delaware. “We not only have an economic imperative to act now, I believe we have a moral obligation,” said Biden adding, “We cannot let people got hungry, we cannot let people get evicted.”
Here’s a summary of key elements of Biden’s stimulus package:
- The USD 2,000 stimulus checks appear to be back in play. Though an amount of USD 600 had been previously approved for eligible recipients, Biden’s plan adds another USD 1,400 to it
- The new payments would also include adult dependents like children over the age of 17, as well as households with mixed immigration status
- USD 400 weekly unemployment insurance supplement, up from the previously sanctioned USD 300
- USD 25 billion in rental assistance, in addition to the previously sanctioned USD 25 billion.
- Extension of the eviction moratorium from January end till end of September
- Biden’s plan also provides for an increase in Child Tax Credits and an extension of paid and sick family leave benefits till end of September
- USD 350 billion to state, local and territorial governments to vaccine distribution, increased testing, payment for frontline workers, and maintaining vital services.
- USD 50 billion to increase testing and an additional USD 20 billion investment to increase vaccinations
Biden had previously told the media about his plan to ensure 100 million shots in the first 100 days of his presidency With Democrats regaining control of the Senate, it is likely that Biden’s proposal will be pushed through with minimum fuss.
*Feature image by Gage Skidmore via Wikimedia Commons.