Joe Biden Announces ‘American Rescue Plan’ Worth $1.9 Trillion, Plans Pushing It At The Joint Session Next Month
President-elect Joe Biden recently announced a rescue plan worth $1.9 Trillion which will make massive investments in infrastructure and manufacturing amongst others. Here are the details.
US President-elect Joe Biden recently announced a new economic stimulus which is worth $1.9 trillion and which will aim at recovering the loses that have been caused by the pandemic. The two-step plan is being called the American Rescue Plan which will cover various programmes including the COVID-19 vaccination campaign. Through a recent announcement, Joe Biden indicated that he will lay out the ‘Build Back Better bill’ at the joint session of Congress which has been scheduled for next month. This bill suggests major investments in infrastructure, manufacturing and clean energy, amongst others, which will give out massive returns in the months to come. He has also proposed in this plan that the minimum federal wage must be raised to $15 dollars per hour while also increasing the stimulus payment from $600 to $2000.
Here is a look at the ZEE5 video with details related to Joe Biden’s new list of proposals for the American Rescue Plan:
Joe Biden recently announced the American Rescue Plan which will be worth $1.9 trillion and will provide financial aid to many. In this new plan, he proposed to increase the federal minimum wage to $15 per hour and stimulus payments to $2000. This new plan will also provide aid to state and local governments that have been heavily affected by the pandemic on a financial level. This new plan will also cover the vaccination program and aim at reopening schools to resume regular working of the education system. This new plan builds on two stimulus packages that had been approved by Congress last year. The new plan adds on $350 billion of funds to help people come out of the pandemic-related financial crisis.
This new American Rescue Plan also proposes tax credit expansion for low-income groups and flexible credit and grant for small businesses that have been struggling currently. This new scheme will also help working parents pay for child care and will provide a moratorium on evictions. The stimulus package, released last year had helped multiple people pay their bills even after losing their jobs and the new package is expected to add on to the relief.
While announcing the plan, President-elect Joe Biden said, “I would like to talk to you about our way forward, a two-step plan of rescue and recovery. A three-step plan to build a bridge to the other side of the crisis we faced to a better, stronger, more secure America. Tonight I lay out my first step, the American rescue plan that will tackle the pandemic and get direct financial assistance relief to the American that needs it the most. Next month, my first appearance at the joint session of Congress, I will lay out my Build-Back-Better recovery plan. It will make historic investments in the infrastructure, manufacturing, innovation, research, and development, clean energy. Investments in the care-giving economy and skills and training, needed by our workers to be able to compete and win in the global economy.”
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