Washington DC — President Elect Joe Biden Thursday, introduced the American Rescue Plan. A $1.9 trillion coronavirus rescue package designed to support households and businesses through the pandemic.
The plan calls for:
Direct payments of $1,400 to most Americans, bringing the total relief to $2,000 including December’s $600 payments
Increasing the federal, per-week unemployment benefit to $400 and extend it through the end of September
Increasing the federal minimum wage to $15 per hour
Extending the eviction and foreclosure moratoriums until the end of September
$350 billion in state and local government aid
$170 billion for K-12 schools and institutions of higher education
$50 billion toward Covid-19 testing
$20 billion toward a national vaccine program in partnership with states, localities and tribes
Make the Child Tax Credit fully refundable for the year and increase the credit to $3,000 per child ($3,600 for a child under age 6)
Biden hopes his multipronged strategy will put the country on the path to recovery by the end of his administration’s first 100 days.