On Sunday, Jan. 31, several economic advisers to the Biden administration all said that Biden was willing to consider, to a limited extent, modifications to his proposed $1.9 trillion Epidemic relief package.
This stems from a joint letter sent to Biden by 10 Republican senators in Congress on the same day, which proposed an epidemic relief package totaling about $600 billion, far less than the $1.9 trillion Biden had asked Congress to approve. Republican lawmakers argued that Biden’s proposed bailout figure was too large and “reckless.
Biden has said he is open to finding a compromise to pass a portion of the $1.9 trillion package if Republicans reject his proposed bailout.
According to CNN, Brian Deese, director of the Biden Administration‘s National Economic Council, said that while “our proposal is commensurate with the economic crisis we face,” the president will look at a new proposal from 10 Republican senators for a more supportive, but less sweeping, aid deal. agreement.
Jared Bernstein, a member of Biden’s Council of Economic Advisers, also said on Fox News that the president is “absolutely willing to negotiate” on the Republican proposal.
The Republican lawmakers’ letter also provides information on the $600 billion bailout package, which includes $160 billion for public health (vaccines, personal protective equipment, support for health care providers) and $20 billion for schools, among other things. The proposal also lists financial relief for those “most in need,” extended unemployment benefits and assistance for small businesses. On these issues, there is bipartisan agreement.
But Biden’s plan to fund state and local governments and raise the minimum wage from $7.25 an hour to $15 an hour has been criticized by Republicans.
In late December last year, former President Trump (R-Texas) signed a $900 billion bailout plan to raise the bailout to $2,000, but it failed to pass the Senate. Now, Biden plans to hand out $1,400 bailout checks to millions of Americans, except for those in the highest wage brackets.
As to what the total amount of the epidemic bailout that Biden agreed to, NEC Director Deacey declined to say at this Time.
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