Less than a week before he takes over as U.S. President, Joe Biden has revealed a $1.9 trillion plan to boost the pandemic-ravaged economy. Called the ‘American Rescue Plan’, it includes direct payment of $1400 to each American.
We have no time to waste when it comes to getting this virus under control and building our economy back better, said Biden. As the virus that has killed 3,89,000 people so far in the U.S. continues to surge, Biden called the vaccine rollout a ‘dismal failure so far’. His administration plans to vaccinate 100 million people in the first 100 days of his presidency.
His proposals include raising unemployment benefits to $400 per week from the current $300. That would benefit about 11 million Americans. Biden also wants to raise the minimum wage to $15 per hour. All these proposals will have to be first approved by the Congress.