Biden Reveals $ 1.9 Trillion COVID-19 Plan for Pandemic Reduction and Financial Restoration

The plan would add a $ 400 / week unemployment insurance surcharge that doesn’t restore the $ 600 / week from the CARES bill that expired months ago, but represents a $ 100 increase over the current policy. As of now, the UI boost will expire in March, the Biden proposal would extend it through September and incorporate Senator Ron Wyden’s efforts to allow automatic triggers to extend or terminate unemployment benefits programs based on national and state economic conditions. The plan also extends the eviction and foreclosure moratoria through September 30. It provides $ 30 billion in rental and utility benefits for tenants and $ 5 billion in emergency relief for people who are or are at risk of becoming homeless.

It includes an extension of the 15% increase in the Supplemental Nutrition Assistance Program (SNAP)
Benefits through September that will help an estimated 40 million Americans out of food insecurity, but will also suggest applying the same economic triggers as the UI boost. What Biden and Wyden are trying to avoid in these programs are the performance cliffs created by the CARES bill and the December bill – a tough deadline for aid programs to end. The automatic triggers they would apply to the user interface and food aid would allow programs to adapt to national and local economic conditions. This is a realization that the pandemic is not going to end anytime soon and the economic devastation will drag on for months. The plan also provides a $ 3 billion increase in the Special Supplemental Nutrition Program for Women, Infants and Children (WIC).

The provision, which could spark the greatest opposition from Republicans and potentially cause the filibuster to fail, increases the minimum wage to $ 15 an hour and “ends the minimum wage and minimum wage for people with disabilities so workers can live across the country.” a middle
Class life and provide opportunity for their families. “This is a good indicator to demonstrate Biden’s commitment to providing a living wage to American workers at the outset. Biden also urges employers to” meet their obligations to put key workers on the front lines and deliver back Hazard Pay ” recognizes that these workers, “who are disproportionately black, Latin American and Asian-American and Pacific islanders, have risked their lives to stock shelves, harvest crops and care for the sick during this crisis.” “

It has $ 15 billion in small business grants; $ 350 billion in emergency funding for state, local and territorial governments; $ 20 billion for transit agencies to retain workers and avoid service cuts; and $ 20 billion in tribal governments. The package is informed by the reality that “Americans are skin color infected and are more likely to die of COVID-19 due to the ongoing systemic racism in our healthcare system. And older Americans continue to suffer at disproportionate rates.”

“I know what I just described won’t be cheap,” said Biden in his speech on Thursday. “But if we don’t do that, it will cost us a lot of money.”

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We have no time to lose when it comes to getting this virus under control and rebuilding our economy better. Tune in while I announce my American rescue plan. https://t.co/4YAg0nhJMn

– Joe Biden (@JoeBiden) January 15, 2021

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