Joe Biden will open his treasury next week to take over the presidency of the United States. Biden announced a $ 1.9 trillion (around 139 lakh crore) relief package for the country that has become the biggest victim of the corona virus outbreak. Under this, each American will receive direct aid of $ 1,400 (about one year of Indian rupee). This package was announced with the aim of improving the deteriorating economic situation due to the epidemic.
Who will get what?
The purpose of this package will be to provide financial assistance to the average American people, support business and accelerate the national immunization program. In the relief plan announced Thursday, $ 415 billion will be given to fight Kovid-19, more than $ 1 trillion directly to help individuals and families, and $ 440 billion to help trade. The relief bill, implemented last month, provided $ 600 in assistance to eligible taxpayers and their loved ones under the age of 17. Along with this in the new program, all dependents will now receive direct financial assistance of $ 1,400.
What did biden say?
In this “American rescue plan”, 20 billion dollars will be devoted to the national vaccination program and 50 billion dollars to the screening of the Corona virus. Biden says: “It is not difficult to understand that we are facing an economic crisis that occurs once every generation, in the midst of a health crisis that occurs once every generation.” The man is suffering before our eyes and now is not the time to wait. Biden says economists are also saying action needs to be taken now.
America faces a double whammy
According to John Hopkins University of America, the epidemic has engulfed 23.3 million people in the country and nearly 4 lakh have died. Millions of Americans lost their jobs, which created an economic crisis and damaged social honor as well. 18 million Americans depend on unemployment insurance and 4 million small businesses have closed. At least 1.4 million people have not been able to pay the rent on the house, which threatens to take down their roofs.
Joe Biden in preparation for landmark investment
For the first time, when he presents to the joint session of Congress (Parliament), he will present the “Build Back Better Recovery Plan”. Historic investments will be made in infrastructure, construction, innovation, research, development and clean energy. Workers will be invested in the skills and training needed to win in the global economy. Previously, President Donald Trump signed a $ 900 billion relief bill last month, raising unemployment benefit to mid-March.
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Joe Biden (photo file)