A Closer Look at Biden’s $1.9 Tr Rescue Plan

The President-elect of the United States, Joe Biden, revealed late yesterday a new government stimulus plan worth $1.9 trillion to help the economy face the effects of the Coronavirus pandemic, under the name “The American Rescue Plan.”

The plan will grant a monthly payment of $2,000 per household by adding another $1,400 to the recently approved $600 payment.

In addition, unemployment benefits will be increased to $400 per week until the end of September.

The plan also raises the federal minimum wage to $15 per hour, which has been called for by many Democrats for a long time, especially during the recent Presidential race.

The plan also allocates $350 billion in aid for state and local governments, as well as $170 billion to support educational institutions.

The pandemic also dominates a large portion of the rescue plan, with $50 billion directed to testing and $20 billion allocated to establishing a vaccination program.

Moreover, the rescue plan prolongs the eviction and foreclosure moratoriums until the end of September.