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Biden reveals $1.9 trillion stimulus package for pandemic-hit US economy

by ChemOrbis Editorial Team -
  • 15/01/2021 (09:35)
President-elect Joe Biden unveiled the details of a new stimulus package worth around $1.9 trillion, which is designed to jump-start the US economy by supporting households and businesses during the pandemic.

The draft package, called the American Rescue Plan, includes direct payments of $1,400 to most Americans, $350 billion aid for state and local governments, $170 billion for schools and education in general.

Furthermore, around $440 billion will be allocated for small businesses and $415 billion will be spent for vaccine roll-outs and COVID-19 testing, Biden said.
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