Wilmington: President-elect Joe Biden will propose a 9 1.9 trillion tax on the US economy when he takes office next week, as there is more evidence that Code-19 threatens to recover from a severe recession.
His fellow Democrats have easily won both houses of Congress, with Biden firing on the United States for approval of a third large-scale epidemic relief package.
Dubbed the US Rescue Plan, the proposal, released Thursday, includes a number of measures aimed at reviving the world’s largest economy. Biden’s goal is to raise the federal minimum wage to 15 15 an hour, to help struggling state and local governments, to open schools safely, to launch a massive vaccination campaign for Covid 19 and to get Congress to approve it. The month is to increase the size of congressional incentive checks.
“These investments in jobs will prevent long-term economic losses from racial equality, and the benefits will outweigh the costs,” Biden said in a speech in Wilmington, Delaware. “In this moment of crisis … we cannot afford intolerance.”
Senate Majority Democrat Chuck Schmidt and House Speaker Nancy Pelosi accepted Biden’s plan, vowing to put it before lawmakers.
“We have the right to work to change the vision of President-elect Biden into a legislature that will pass and sign into law in both houses,” he said in a joint statement. But this is only the first step, and officials say Biden plans to present a second “recovery” plan to lawmakers shortly after his inauguration on Wednesday, aimed at securing climate change services. And to counter them.
We will use taxpayer dollars to rebuild America. “We will buy American products, which are helping millions of American manufacturing jobs, and increasing our competitiveness in an increasingly competitive world,” Biden said.
The government on Thursday reported an increase in new job claims in the first week of 2021, the highest level since August, while last week’s official data showed that economic jobs in December I have decreased.
Biden, 78, will take office after a tumultuous transition that saw a violent mob attack the US capital, exemplified by outgoing President Donald Trump, when the Democrats won the election. Were meeting to confirm.
Congress has proposed its stimulus on two major relief packages approved in 2020, which include increasing and expanding the benefits of unemployment in September, which caused millions to lose their jobs due to epidemics. Assist in paying bills.
In addition, there is a call for a way to sustain these programs if unemployment remains high, as well as an expansion of government food aid as the country experiences some of the highest levels of hunger in modern times. Struggling to the limit.
But the controversy could wait for state and local governments to fund منصوبے 350 billion over the project, which was blocked by Republican lawmakers last year.
It is also likely that the presidential campaign will increase the size of the stimulus checks received by Americans in the December package to پون 2,000, which will fulfill the campaign’s promise.
But there is only one majority in Congress, including an evenly divided Senate, where Vice President-elect Kamala Harris can get an equal number of votes. A Democratic senator has already expressed reluctance to raise payments, but earlier this week Republican Senator Marco Rubio told Biden he would support the extra aid.
The proposal calls for 160 160 billion to fight the Code U-19, 170 170 billion through the National Vaccination Campaign, and 170 170 billion for schools, the first 100 of their administration. Open education with students in eighth grade kindergarten during the day.
Prior to the release of the details, JPMorgan’s Michael Fowley had predicted that Congress could plan for Biden’s 900 billion bill, a measure approved last month.
Even less will boost GDP growth to 5.3 percent and 2.6 percent in 2022, he said, adding that even with the help of “significant expected change”, inflation and the Federal Reserve’s low debt Helped maintain the rates. Other aspects of Biden’s plan include increasing the tax credit, which aims to fight poverty and help working parents provide childcare, as well as extend the evacuation period. ۔
The plan offers flexible credit and grants to small businesses that are large employers but have struggled to survive as states have imposed restrictions to prevent the virus.