Daily Management Review

$1.9 Trillion Additional Pandemic Package Unveiled By President-Elect Joe Biden Post Pandemic


$1.9 Trillion Additional Pandemic Package Unveiled By President-Elect Joe Biden Post Pandemic
A massive $1.9 trillion stimulus package proposal to counter the impact of the impact of the covid-19 pandemic in the United States was unveiled by US president-elect Joe Biden. The package is designed to jump-start the economy and accelerate the fight of the country against the novel coronavirus pandemic.
Last year, in his campaigns during the run up to the presidential elections, a promise to take the pandemic more seriously than that adopted by President Donald Trump was made by Biden. This stimulus package is being viewed as Biden taking action on that promise as the package contained using a host of resources to respond against the pandemic as well as to stage an economic recovery.
”It’s not hard to see that we’re in the middle of a once-in-several-generations economic crisis with a once-in-several-generations public health crisis. A crisis of deep human suffering is in plain sight and there’s no time to waste,” Biden said in a prime-time address on Thursday evening. ”We have to act and we have to act now.”
Biden’s transition team released the details of the aid package earlier on Thursday. The stimulus package includes $ 415 billion to augment the measures against the pandemic and the faster rollout of the Covid-19 vaccines, about $1 trillion as direct relief for households and about $440 billion as aid to small businesses and communities that have been particularly hit hard by the pandemic induced economic slowdown.
The package would see the government distributing $1,400 payment checks for households which would be over and above the $600 that was given under the last congressional stimulus package.  The package also includes increase of $400 a week from $300 a week now in the supplemental unemployment insurance which would be extended till September this year.
With this stimulus package, the tenure of Biden as US president will kick off with a large bill but will also put into motion his short term agenda of aiding the American economy to stage a recovery as well as getting grasp on the pandemic that has virtually gone out of control in the US with more than 385,000 deaths as of Thursday.
This move by Biden also contracts the last month of Trump as the US president – much of which was spent on undermining the election victory of Biden instead of focusing on creating and implementing more pandemic relief.
However Trump, who is set to vacate office on Wednesday, did lend his support to a plan of handing over $2,000 to Americans. But the total cost of that plan to the government was a cause of concern for many Republicans in Congress and similar hurdles could be faced by Biden because of his pandemic relief package. However Biden would get help because of the fact that his fellow Democrats will control both the House and the Senate.