President-elect Joe Biden on Thursday announced a new $1.9 trillion COVID-19 economic relief plan citing a need for a better vaccination rollout and another round of direct payments to American families who have been struggling amidst the prolonged economic fallout brought on by the coronavirus pandemic.
Saying that "our nation is at stake," Biden outlined his plan that included $1,400 stimulus checks to help supplement the $600 Congress passed last month. Biden's plan, the American Rescue Plan, also includes $160 billion for a national vaccine program with $20 billion going to distribution and another $50 billion to help expand testing across the U.S. Funding for the vaccine rollout is part of Biden's goal of administering 100 million vaccines in the first 100 days of his administration.
Another $170 billion would be directed to K-12 schools and higher education to help schools safely reopen. Funds would also be set aside for for a temporary boost in unemployment benefits and a moratorium on evictions and foreclosures through September.
Finally $350 billion would be sent to state and local governments as part of the recovery plan.
Those who received a $600 check or $1,200 check last year, would be eligible for the additional $1,400 payment. Eligibility is based on income with individuals making less than $75,000 a year receiving the full amount. The payments begin phasing out at a rate of $5 per $100 of additional income.
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