U.S. Congress Approves Joe Biden’s $ 1.9 Trillion Stimulus Package

The US Congress on Wednesday approved the $ 1.9 trillion stimulus package promoted by Joe Biden, an important victory for the Democratic president at the start of his mandate who seeks helping small businesses and families affected by the coronavirus pandemic.

This plan, approved by 220 to 211 (was strongly rejected by Republicans), according to the government and experts, will help an economy severely damaged by the pandemic, and will also be support for ordinary Americans, as it plans to extend the duration of unemployment insurance and includes the routing of $ 1,400 in direct aid in the form of checks for the lowest income households.

The $ 1.9 trillion is equivalent to Italy’s GDP in 2020. Enough to have a significant impact on growth, according to economists, and on the lives of millions of Americans.

The United States “desperately” needs these measures to emerge from the crisis caused by the pandemicsaid the president, who has promised to enact the “bailout” as soon as it is adopted by Congress.

In a statement released shortly after the vote, Biden celebrated his approval and assured that the voices of “an overwhelming percentage of Americans – Democrats, Independents and Republicans – have been heard.”

“Now we are moving forward with the resources to immunize the nation. ANDSend direct payments of $ 1,400 to 85% of U.S. households. Expand coverage and help reduce social security payments. Give small businesses what they need to stay open. Expand unemployment insurance, provide food and nutrition assistance. To keep a roof over people’s heads. Halve child povertyThe letter said.

“It’s about giving the backbone of this nation – the essential workers, the workers who built this country, the people who maintain it – a chance to keep fighting,” added the president, who will sign. legislation Friday.

Republicans opposed the move, seeing it as a “far left” measure that goes beyond tackling the crisis caused by the coronavirus.

Biden’s plan took the first decisive step on Tuesday night with the process vote in the House: 219 Democrats approved the rules that will govern the final vote, while 209 Republicans and one Democrat rejected them.

“It is a remarkable historic law that will lead to profound transformation and allow us to make great strides in the fight against the virus and in responding to our economic crisis.Democratic House Speaker Nancy Pelosi said Tuesday.

This Tuesday, the 46th President of the United States visited, for his part, what is considered to be the oldest hardware store in Washington, which benefited from one of the Donald Trump administration’s aid programs, whose measures will now be extended.

Democrats insist that with their version, small family businesses, and especially those run by minorities, will get more support.

“We have taken a giant leap” to help AmericansBiden said Saturday after the Senate vote on the plan, one of his great campaign promises.

“We are very excited, optimistic and hopeful for what is to come,” Biden Chief of Staff Ron Klain wrote on Twitter on Tuesday.

Biden constantly remembers the example of the Great Crisis of 2008, when he was Obama’s right-hand man to launch the bailout for the US economy in 2009., and insists that it is better to think big to try to avoid a relapse.

The world’s largest economy contracted 3.5% last year, the largest since World War II. According to the Congressional Budget Office (CBO), the labor market will not return to its pre-pandemic level until 2024, if a stimulus measure is not applied.

According to experts, this millionaire package should be the engine of growth. According to White House, this “historic” law will create more than 7 million new jobs this year, reduce health costs and save lives by boosting vaccination against covidus.

The presidency also says that child poverty will be halved.

Project Biden also plans to continue many of the previous programs of other aid plans approved in 2020, for $ 2.2 trillion and $ 900,000 million respectively., issue checks up to $ 1,400 to many Americans, and provide assistance to cash-strapped state and local governments. It will also extend the one-time unemployment benefits which expire from March 14 to September.

This plan “will lead to a profound transformation,” he said on Tuesday. Hakeem Jeffries, one of the Democratic House leaders.

But for Republican lawmaker Steve Scalise, Democrats are not focusing on tackling the pandemic, but instead promoting “a far left agenda” with which “they are pushing the next generation into bankruptcy with a mountain of debt.”

A year after the outbreak of the pandemic, causing a serious economic crisis that has left millions of unemployed, the project also includes funds for immunization.

With information from AFP

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