Joe Biden is about to launch a “trillion” dollar COVID-19 economic relief plan, the president-elect announced on Friday.
The relief plan will target state and local governments, as well as provide new support for people who have lost their jobs as a result of the coronavirus pandemic, he said.
Biden’s original plan was for a bill below $ 1 trillion, but he said on Friday that “economic research confirms that with conditions like today’s crisis, especially with these low interest rates, taking action measures – even with deficit financing – will help the economy. “
Biden, who plans to reveal details on Thursday, also called for raising the minimum wage to $ 15 – a campaign pledge – and wants to distribute $ 2,000 in cash payments. Democrats tried to distribute similar relief checks in the latest COVID-19 support package, but failed to get Republicans to agree on the amount.
“We need more direct help flowing to families and small businesses, including finishing the job of getting people to pay directly $ 2,000 in aid. $ 600 is simply not enough, ”he said.
Biden takes office on January 20.