Tag: Stimulus package

Biden Promise Shows Shift Towards Quick Economic Recovery Road
Americas

Biden Promise Shows Shift Towards Quick Economic Recovery Road

As Joe Biden was sworn in as the new American dream for a better tomorrow, discussions around his stimulus package are already doing rounds in the political circuit. 

The bottom line drawn is that the seriousness and vow of delivery will entirely depend on the effectiveness of his stimulus package.  According to a former economic advisor to Obama, Biden indeed has a tough task at hand as he is “inheriting among the worst crises a president has stepped into.”

An old saying goes that ‘the first 100 days tests the effectiveness of someone’s leadership’. Indeed, Biden will have all the opportunity to test his from the beginning.  He would need to move in lightening speed, to repair damage and create some immediate buttressing of the fractured economy. Critics feel he has the right experience having worked under Obama as Vice President. 

Reversing the damage course, as soon as he was sworn, he quickly signed off 17 executive orders. They included extending a pause on student loan payments, renewing an eviction moratorium, and rejoining the Paris climate accords.

There is hope when Biden makes announcements about collective strength and desire to bring together the bipartisanship and unite Americans after almost four years of divided chaos under Donald Trump.  According to economists, there is a need for robust input of finances to help the economy to get back on its feet. 

Biden has already introduced a $1.9 trillion pandemic relief plan last week building on an earlier federal rescue package. The plan includes relief provisions like enhanced unemployment insurance through September, aid to state and local governments, vaccine funds, and new stimulus checks.

Biden has also said he would unveil a second major plan during a joint session of Congress next month to unleash new federal investments into infrastructure, childcare and manufacturing.

Currently, the infection numbers in America have out past those even killed in the World War II, amounting to 4.5 million. Around 10 million less Americans have jobs due to the ongoing corona virus strain on the economy. Much of the economic burden has fallen squarely on women and minority communities, who have suffered larger job losses. Last week, employers have said to have shed 140,000 jobs, not making things any further pleasant that they already are. 

Biden announces ‘American Rescue Plan’ to heal ailing economy and the pandemic crisis
Americas

Biden announces ‘American Rescue Plan’ to heal ailing economy and the pandemic crisis

American Rescue Plan: On Thursday, President-elect Joe Biden announces a $1.9 trillion Covid plan called the ‘American Rescue Plan’ to help fight the profound human crisis by accelerating immunizations and siphoning out monetary assistance to those battling with the pandemic’s financial aftermath. 

The president-elect praised Congress for passing the $900 billion package in Dec 2020 and he stressed that more action is required promptly to help fight the ailing economy.

The American Rescue Plan legislative proposal would meet Biden’s objective of managing 100 million immunizations by the 100th day and advance his goals of resuming most schools by the spring. It will also help balance the economy and aid the coronavirus crisis.

Biden proposed a $1,400 stimulus for Americans, which on top of $600 gave in the latest COVID-19 bill would carry the all out to the $2,000 that Biden has called for. It would likewise boost unemployment benefits and a moratorium on removals and foreclosures through Sept.

The U.S. administration has approved two different vaccines – Pfizer-BioNTech coronavirus vaccine and Moderna vaccine for emergency use. Both require a two-shot. Up until now, over 10 million individuals have got the first shot. 

Senate Democratic Leader Chuck Schumer stated that passing a coronavirus relief bill would be the main goal when Democrats take control of the Senate. 

More than 385,000 people have passed away due to coronavirus in the U.S. On Thursday, the weekly unemployment claims jumped to 965,000, a signal that rising infections are forcing businesses to lay off workers.

Under Biden’s $1.9 trillion relief package will include $415 billion to zero in on battling the pandemic, over $1 trillion in direct stimulus to families, and $440 billion to aid business amid the growing economic crisis.

The plan incorporates funding for $1,400 in additional stimulus checks to Americans who are fit for them, adding to $600 checks previously passed in Dec; and an increase in additional weekly unemployment aid from $300 to $400, The Hill detailed. 

On Thursday evening, Biden announced that he is anticipating to work with Congress and act on the legislative promptly, calling for unity as the nation facing the double whammy of the coronavirus and economic crisis.

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