President-Elect Joe Biden unveiled a rescue package on Thursday.
The $1.9 trillion package is being touted as the package to save America.
The plan, which the Biden team calls the “American Rescue Plan,” includes $1,400 checks for individuals, which would be in addition to the $600 stimulus checks approved at the end of 2020.
The “American Rescue Plan is ambitious, but achievable, and will rescue the American economy and start beating the virus,” Biden’s team said in a statement.
Other things include:
- $400B vaccine/schools
- Stimulus to $2K
- $400/week unemployment
- $30B rental aid
- 15% SNAP boost
- EITC boost
- $25B child care
- $20B public transit
- $35B small biz/grants
- Fund COBRA thru Sept
- Boost ACA subsidy
- $15 minimum wage
Senate Democratic leader Chuck Schumer of New York has said Biden’s proposal will be his first order of business this year. The emergency legislation would be paid for with borrowed money, adding to trillions in debt the government has already incurred to confront the pandemic.