President-elect Biden announces $1.9 trillion American Rescue Plan

On Thursday (local time), President-elect Joe Biden unveiled a USD 1.9 trillion initiative to revive the country's economy and fight the coronavirus. 

"We have no time to waste when it comes to getting this virus under control and building our economy back better," the new president said.

"We need to tackle the public health and economic crises we're facing head-on. That's why today, I'm announcing my American Rescue Plan. Together we'll change the course of the pandemic, build a bridge toward economic recovery, and invest in racial justice.

The Biden plan will ask Congress to approve up to USD 400 billion to combat the novel coronavirus so it can establish community vaccination sites across the United States and boost testing and tracing, Sputnik quoted from a release issued by Biden's transition team.

 

The team said that Biden's USD 1.9 trillion 'American Rescue Plan' is ambitious, but achievable, and will rescue the American economy and start beating the virus.

 

It further said, "Congress should act expeditiously to help working families, communities, and small businesses persevere through the pandemic."The plan has also proposed to provide eligible individuals with USD 1,4000 in stimulus payments.

 

The plan seeks to provide USD 130 billion to help US schools safely reopen within the first 100 days of Biden's presidency.

 

President-elect Joe Biden and Vice President-elect Kamala Harris will be taking the oath on January 20.