Biden’s Stimulus Plan

The country will soon transition from being run by a lifelong businessman to a lifelong politician.  The economic implications of this switch is something that should be considered.  Biden recently rolled out his own stimulus package recently.  

On Thursday, President Biden revealed a $1.9 trillion economic package called the American Rescue Plan.  A lot of this plan is centered around Covid-19 relief.  To begin with, the full $2,000 dollar stimulus check that was heavily discussed will be fulfilled.  Those who are unemployed will get an extra $100 dollars per week, bringing the overall total to $400 per week.  Rental assistance is also in the plan.  The plan also would change the minimum wage to $15/hour.  To go along with that, $15 billion will go to small business owners in the form of a grant program (CNN).

Another part of this plan is to put $20 billion towards a national vaccine program.  100,000 public health workers would also get funded and there would be more help on tribal lands.  

“The proposal would also invest $50 billion in testing, providing funds to purchase rapid tests, expand lab capacity and help schools implement regular testing to support reopening” (CNN).

Biden also plans to help public schools from kindergarten through college.  Currently, over half of the U.S. population in grades K-12 is doing some form of online schooling, whether it is completely remote or more of a hybrid.  Some college students will be given $1,700 from a total of $35 billion as well.  In total, money going to schools would be around $175 billion (Camera).  

“Biden has pledged to open the majority of K-8 schools within the first 100 days of his administration” (Camera).  

This is all Biden’s plan.  Obviously, he is not the President of the United States yet and even then this still has to pass Congress.

Camera, Lauren. “Biden Proposes $175 Billion to Reopen Schools.” U.S. News & World Report, U.S. News & World Report, 14 Jan. 2021, http://www.usnews.com/news/education-news/articles/2021-01-14/biden-proposes-175-billion-to-reopen-schools.

Luhby, Tami, and Katie Lobosco. “Here’s What’s in Biden’s $1.9 Trillion Economic Rescue Package.” CNN, Cable News Network, 14 Jan. 2021, http://www.cnn.com/2021/01/14/politics/biden-economic-rescue-package-coronavirus-stimulus/index.html.