Biden will formally announce a $1.9 trillion economic bailout package tonight.
President-elect Joe Biden will ask Congress to pass a $1.9 trillion economic bailout package that will inevitably face opposition from Senate Republican lawmakers, which will be the first legislative test he faces after taking office.
The Biden administration revealed that the plan would be the first step in a two-phase proposal, followed in subsequent weeks by a broader package focused on long-term goals such as infrastructure development and climate change.
The epidemic relief bill that was introduced first has $400 billion to control the Newcastle pneumonia (CCP) epidemic, more than $1 trillion for direct relief spending, and $440 billion for communities and businesses, more than double the size of the bipartisan bill passed last month. Because of its size and the inclusion of the Democratic Party’s priority of raising the minimum wage, it will face a Republican challenge.
According to the Biden transition team and congressional officials, key elements of the bailout plan include.
-Increasing individual benefits to $2,000 from the $600 approved in December
-Supplementing and extending unemployment benefits
-Funding for state and local governments
-Vaccine distribution funds
-Tax credits for families with children
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