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 \u201cThe American Rescue Plan.\u201d<\/p>\n\n\n\n
The plan will grant a monthly payment of $2,000 per household by adding another $1,400 to the recently approved $600 payment.<\/p>\n\n\n\n
In addition, unemployment benefits will be increased to $400 per week until the end of September.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
The plan also allocates $350 billion in aid for state and local governments, as well as $170 billion to support educational institutions.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
Moreover, the rescue plan prolongs the eviction and foreclosure moratoriums until the end of September.<\/p>\n","protected":false},"excerpt":{"rendered":"
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 \u201cThe American Rescue Plan.\u201d The plan will grant a monthly payment of $2,000 per household by adding another $1,400 to the recently …<\/p>\n","protected":false},"author":10,"featured_media":36538,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6827,49,36],"tags":[7214],"class_list":["post-40010","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-daily-economic-reports","category-economic-reports","category-market-updates","tag-biden"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/40010","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=40010"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/40010\/revisions"}],"predecessor-version":[{"id":40011,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/40010\/revisions\/40011"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/36538"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=40010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=40010"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=40010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}