US President Joe Biden announced USD 1.9 trillion Covid-19 stimulus plan for the growth of US economy
On 21 January 2021, new US President Joe Biden announced US$ 1.9 trillion Covid-19 relief package to give the boost to the U.S. economy. The package includes various benefits for the U.S. population such as direct financial aid to average Americans, Covid-19 vaccination programme, and also to support businesses financially and economically.
For fighting COVID-19 pandemic, the relief package includes US$ 415 Billion and US$ 440 Billion for providing direct financial aid to every individual and families in the U.S. in assistance to businesses in the country.
U.S. President Joe Biden said that “It’s not hard to see that we are in the middle of a once-in-several generation economic crisis within a once-in-several generation public health crisis. A crisis of deep human suffering in plain sight. And there is no time to wait. We have to act and act now. This is what the economists are telling us. More importantly, it is what the values we hold in our hearts as Americans are telling us. A growing chorus of top economists agree that, in this moment of crisis, with interest rates at historic lows, we cannot afford inaction. As we work to keep people from going hungry, we will also work to keep a roof over their heads to stem the growing housing crisis in America. Approximately 14 million Americans have fallen behind on rent, many at risk of eviction.”
U.S. President Joe Biden said that “It will make historic investments in infrastructure and manufacturing, innovation, research and development, and clean energy. Investments in the caregiving economy and in skills and training needed by our workers to compete and win the global economy of the future”