The U.S. president called the incentive package issued by Congress in December a ‘pay down’, signaling the need for more assistance.
U.S. President Joe Biden plans to unveil a trillion-dollar economic stimulus package Thursday that includes relief for unemployed Americans and a lease of rent for tenants.
The president said a disappointing jobs report on Friday – which saw the economy shrank by 140,000 jobs in December – makes it clear that Americans need quicker and immediate relief from the coronavirus epidemic and that action now will help the economy even deficit funding.
Democrat Biden said the COVID-19 bipartisan aid package passed by Congress in December was a very important step, but only a “payback” on wider efforts. needed to help Americans. The package included $ 600 checks, but Biden wants to increase the amount to $ 2,000.
“Economic research shows that in today’s crisis, especially with interest rates so low, immediate action – even with deficit funding – is going to help the economy,” in the long and short term, reducing scarring in the workforce, increasing growth and reducing our national debt burden, ”Biden told reporters, citing his nominees to be in charge of the Trade and Labor sectors.
Biden, who will take up the post on Jan. 20, said he would map out plans for next week’s stimulus package, including efforts to ensure coronavirus vaccines are distributed more quickly.
“We need more relief just flowing to families, small businesses, including ending the work of getting people to pay just $ 2,000,” he said. -near $ 600 is not “enough”.
Biden also said that more action was needed to help Americans get to the other side of the health and economic crisis, and to “avoid the wider economic cost out there, which will be due to a lack of long-term employment, hunger, homelessness and business failures. “