The plan underscores the President's intent to aggressively shore up a deteriorating economy and address the devastation caused by the pandemic.
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President Biden's $1.9 trillion stimulus plan
President Joe Biden is inheriting a set of extraordinary crises that will immediately test his administration. Here are the details of his plan to combat the economic crises brought on by the pandemic.
An Overview
The President has said that the giant scale of assistance he wants "does not come cheaply, but failure to do so will cost us dearly."
Families with children aged 17 and under would receive $3,000 for each child.
$15 Minimum Wage
The federal minimum wage, which hasn't changed since 2009, is currently $7.25 — less than half of what the new wage would be.
Benefits for small businesses, families, and unemployed people
The plan includes funds to finance state work-sharing programs so businesses avoid laying off employees working fewer hours without missing out on their pay.
"This gets money quickly into the pockets of millions of Americans who will spend it immediately on food, rent, and other basic needs," Biden said.
Respondents also indicated favorability of extending mortgage forbearance policies, increasing unemployment benefits, and raising taxes for the wealthy.
The plan will have significant impacts on reducing child poverty in the United States, cutting it nearly in half.
Hoops to Jump Through
Now sworn in, Biden's vow to work with Republicans will be quickly tested.
