Home Politics Joe Biden comes with a large-scale plan to save the economy – it is to inflate the stock market

Joe Biden comes with a large-scale plan to save the economy – it is to inflate the stock market

The forthcoming US president, Joe Biden, announced plans for a $1.9 trillion support package on Thursday night on Friday. The package, known as the ‘American rescue plan’, is intended to help the United States to cope with the COVID-19 and the harsh economic conditions in the country. Previously, outgoing President Donald Trump authorized two other support packages.

$400 billion from Biden’s plan must go to the immediate fight against the coronavirus. For example, more vaccinations and tests should be carried out. In addition, funds are being made available to enable schools to be reopened. $1 trillion is made available in the plan to help families in the economic field, for example by raising the minimum wage to $ 15 an hour. 440 billion dollars will also go to businesses and to an emergency fund for local governments.

“There is a crisis of deep human suffering in front of our eyes and we cannot waste time,” said Biden during a speech. “We must act now.”

The United States is one of the most affected countries by the COVID. On Thursday, the country reported 4200 deaths from the virus, a new day record. In economic terms, too, the pandemic has a major impact on the country. Last week, nearly 1 million Americans applied for unemployment benefit, the largest number since August.

Biden is officially inaugurated as the new president of the United States on January 20. In February he then wants to come up with a more extensive aid plan.

About the author: Wesley C Waldo

Wesley C Waldo, a promising writer who is preparing to publish his first novel in 2023. Travels a lot and collects the clues for a new book. He writes on social topics, sometimes describes an event or two.

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