PRESIDENT ELECT BIDENS STIMULUS MOVE
President elect bidens stimulus move. It took the US six days to gain a million new Covid-19 cases, the Associated Press reported, bringing the known total of infections up to 11 million. The quick escalation in coronavirus spread underscores the somber warning form health experts and economists that an uptick in fall and winter cases will lead to more hospitalizations, death, lockdowns and evictions as more people become sick and unable to work or are forced to shelter in place. Meanwhile, the final string of economic protections will run out by the end of 2020 and won’t be renewed unless serious negotiations pick up and another stimulus package passes before Dec. 31. The White House appears to have backed away from its $1.9 trillion pre-election proposal. The top ranking Democratic and Republican lawmakers–House Speaker Nancy Pelosi and Senate Majority Leader Mitch McConnell, respectively, have reportedly not spoken about stimulus, yet top leaders across the spectrum have been calling for more aid–including president elect Joe Biden and President Donald Trump. President elect bidens stimulus move.
Trump tweeted support for a new stimulus bill that is both large and focused, seemingly a contradiction. With Republicans and Democrats at odds the House of Representatives returns to Washington, and the timing of a new stimulus bill before Biden’s inauguration on January 20th is still up in the air. Despite the uncertainty, Biden has laid out a plan to address the effects of the coronavirus pandemic on the US economy, starting with a COVID 19 task force and a new set of strategies that complements a similar plan Biden released during the Presidential campaign. “One of the urgent things that need to be done is people need relief right now.” Biden said.
The CARES Act, passed in March, was the first stimulus package intended to help people financially affected by the pandemic. One of the most popular aspects of the act was a stimulus check of up to $1200 per person, sent out to more than 160 million Americans. That direct aid caused a jump in household spending, helped millions of Americans at risk of slipping into poverty and allowed others to save.