Incoming President Joe Biden has announced a $1900 billion support package, converting over EUR 1500 billion. The money is intended to combat coronapandemic, accelerate vaccination and support individuals, states, local authorities and businesses.
Americans get 1400 bucks. Earlier, they already got 600 dollars. Money goes for rent, food and childcare to people in need. Schools get money to reopen safely, what Biden wants to get done in the spring. The plan also raises the minimum wage to $15 an hour.
The package is financed by borrowed money, which further increases the debts of the federal government. It is not yet clear whether Congress will approve the plan. Democratic leaders Pelosi (House of Representatives) and Chuck Schumer (Senate) have already said that they want to deal with the proposal quickly.