Biden looks to jumpstart economy

WILMINGTON: United States presidentelect Joe Biden has unveiled a $US1.9 trillion stimulus package proposal designed to jumpstart the economy and speed up the US response to the coronavirus pandemic.

Biden campaigned last year on a promise to take the pandemic more seriously than President Donald Trump did, and the package aims to put that pledge into action with an influx of resources for the coronavirus response and economic recovery.

‘‘It’s not hard to see that we’re in the middle of a onceinseveralgenerations economic crisis with a onceinseveralgenerations public health crisis.

‘‘A crisis of deep human suffering is in plain sight and there’s no time to waste,’’ Biden said in a primetime address yesterday. ‘‘We have to act and we have to act now.’’

Details of the aid package were released by Biden’s transition team earlier yesterday.

It includes $415 billion to bolster the response to the virus and the rollout of Covid19 vaccines, some $1 trillion in direct relief to households, and roughly $440 billion for small businesses and communities particularly hard hit by the pandemic.

Stimulus payment cheques would be issued for $1400 — topping up the $600 cheques issued under the last congressional stimulus legislation. Supplemental unemployment insurance would increase to $400 a week from $300 and would be extended to September.

Biden’s plan is meant to start his time in office with a large Bill that sets his shortterm agenda into motion quickly: helping the economy and getting a handle on a virus that has killed more than 385,000 people in the United States as of yesterday.

It also provides a sharp contrast with Trump, who spent the last months of his administration seeking to undermine Biden’s election victory rather than focusing on coronavirus relief.

Trump, who leaves office next week, did support $2000 payments to Americans, however.

Many Republicans in Congress baulked at the price tag for such payments, and Biden will face similar hurdles with his proposals, though he will be helped by the fact his fellow Democrats will control both the House and the Senate.

The incoming president will seek to pass the legislation even as his predecessor faces an impeachment trial over last week’s deadly rampage at the Capitol.

Transition officials said Biden’s plan would be a rescue package that would be followed up with another recovery package in the coming weeks.

‘‘We’re at a very precarious moment for our economy,’’ one of the officials said.

The plan would extend moratoriums on foreclosures and evictions until September and include funding for rental and utility assistance.

The presidentelect will also call on Congress to increase the minimum wage to $15 an hour, and the package will include assistance to fight hunger.

The coronavirus reliefrelated funds will go towards a national vaccine programme, testing, investments for workers to do vaccine outreach and contact tracing, and money for states. — Reuters

❛ A crisis of deep human suffering is in plain sight and there’s no time to waste

Joe Biden