President-Elect Biden Reveals $1.9 Trillion Covid-19 Stimulus Relief Package

President-elect Biden has also just released a $1.9 trillion U.S. economic relief package. Biden said of the bill “Our rescue and recovery plan is a path forward, with both seriousness of purpose and a clear plan. With transparency and accountability. With a call for unity that is equally necessary.” The bill calls for direct payments of $1,400 to most Americans. This paired with the $600 we’ve recently received would total the $2,000 direct payments they’ve been promising for months. Eviction and foreclosure moratoriums and $400 weekly unemployment benefits would be extended through September. Federal minimum wage would also be increased to $15 per hour. The bill further allocates $350 billion towards state and local governments, $170 billion for K-12 schools and institutions of higher learning, $50 billion for Covid-19 testing, $20 billion for a national vaccine program, and more. This is just the first of two major spending bills the president-elect intends to pass. The second will tackle more long-term issues which includes the creation of jobs, reforming infrastructure, combating climate change and advancing racial equity. That bill is said to be introduced in February. Despite holding the majority in the House and Senate, Biden said he would still like to come to some sort of bipartisan agreement with Republicans over the packages.