The incoming president of the US, Mr. Joe Biden has promised to pump money to revive the economy. He narrates his plans and how the cash will be put to good use.
Mr. Joe Biden promises $1.9 Trn economy funds
Mr. Joe Biden has just unveiled about a £1.5 trillion benefit stimulus plan to help the American economy to a greater height. If his decision is agreed to by the house and senate, this package will include $1 trillion for homes and direct financial payments of about $1,500 to each citizen.
This relief plan consists of $426 billion to small businesses. The president-elect has told Americans that his administration will beat the negative effect that covid-19 has impacted on the US economy. It is estimated that about 386,000 Americans have died due to the virus.
Part of his campaign last year was to revive the economy and handle the pandemic better than the incumbent Donald Trump. The expected payments of $1,500 would come in addition to an already passed $600 payment agreed in December.
Mr. Biden’s plan comes as a relief to many US families as the virus continues to bite into many households. The US has seen about 200, 000 daily infection cases and the fatality rate sometimes comes to 3,500.
What Joe Biden’s economic statement meant?
In his town in Delaware, Biden said:
“ Times like this that cause so much suffering need drastic solutions, and we need to stop dragging our feet. Americans” health is at stake, and we need to move fast and save our sick economy. “
Mr. Joe Biden further opined that pumping about $20 billion to vaccinate American citizens as well as launching health hubs and mobile units is a good step to combat the pandemic. Part of his suggestions includes $50 billion in expanding testing centers and about $140 billion to help all educational institutes to be fully operational by June.