Biden presented a plan to stimulate the American economy by $1.9 trillion

About $400 billion is expected to be allocated directly to the fight against the pandemic; about $1 trillion should be allocated to help the population, the rest – to stimulate the economy.

The document states that this package of measures will help “save the US economy and begin to defeat the virus.” It is emphasized that the plan is “ambitious but feasible.”

About $400 billion of the $1.9 trillion is expected to be allocated directly to the fight against the pandemic. About $1 trillion should be used to help the population; the rest-to stimulate the economy.

According to the plan, direct payments to Americans will increase to $2 thousand in total. The document calls for an increase to $15 of the minimum hourly wage in the country, introducing additional benefits.

In particular, Biden considers it necessary to allocate $50 billion to expand testing programs for infection with the new coronavirus. According to the Democrat, $130 billion should be allocated to support the safe reopening of schools in the country with the personal presence of students.

The President-elect also proposes to provide $350 billion to local authorities to eliminate the existing budget deficit. It is planned to allocate $15 billion for loans to small businesses.

If you have found a spelling error, please, notify us by selecting that text and pressing Ctrl+Enter.

Author: Ivan Maltsev
The study of political and social problems of different countries of the world. Analysis of large companies on the world market. Observing world leaders in the political arena.
Function: Chief-Editor
Ivan Maltsev

Spelling error report

The following text will be sent to our editors: