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US: Dems propose $1,400 payments as part of Joe Biden's virus relief

Biden, less than three weeks into his presidency, has declared that defeating the virus and fixing the economy are his top priorities

Topics
Joe Biden | US economy | Economic stimulus

AP  |  Washington 

President Biden signs executive orders inside the Oval Office at the White House in Washington
President Biden signs executive orders inside the Oval Office at the White House in Washington

Democrats on a pivotal House panel have proposed an additional USD 1,400 in direct payments to individuals, bolstered unemployment benefits and more generous tax breaks for families with children and for lower earners as Congress began piecing together a USD 1.9 trillion COVID-19 relief package on Monday.

The plan is expected to closely follow President Joe Biden's proposed package to address the tolls of the coronavirus pandemic, which has killed over 460,000 Americans, and the nation's still staggering economy, which has lost 10 million jobs since the crisis began last year.

Biden, less than three weeks into his presidency, has declared that defeating the virus and fixing the economy are his top priorities.

The proposal by the Ways and Means Committee, which plans to vote on it by week's end, would also expand tax credits for families with children, for lower-earning people and for Americans who buy health insurance on marketplaces created by former President Barack Obama's Affordable Care Act. It would also provide health care subsidies for some unemployed workers.

Spending by Ways and Means, one of Congress' most powerful committees, is expected to exceed USD 900 billion, nearly half of Biden's overall plan.

The House Education and Labour Committee also previewed its plans on Monday, a roughly USD 350 billion package that includes USD 130 billion to help schools reopen safely, USD 40 billion for colleges battered by the pandemic and gradually raising the federal minimum wage to USD 15 an hour.

Top Democrats hope the House will approve the complete bill later this month and send a final House-Senate version to Biden for his signature before mid-March, when crucial emergency unemployment benefits will otherwise expire.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Tue, February 09 2021. 06:53 IST
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