Biden unveils $1.9 trillion virus plan to speed vaccine rollout, steady economy, reopen schools
WILMINGTON, Delaware — President-elect Joe Biden unveiled a $1.9 trillion coronavirus plan to speed vaccines, revive the economy and reopen schools.
He formally introduced the proposal, dubbed the “American Rescue Plan,” on Thursday evening from Delaware.
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Biden said the economic aid would help sustain Americans through the vaccination process, but it would also provide a possible springboard for a stronger recovery once the pandemic wanes.
More than $400 billion would go toward vaccinations, testing, public health jobs, reopening schools and family leave benefits, creating the infrastructure to achieve 100 million vaccinations in 100 days and even more going forward.
Eligible Americans would receive an additional $1,400 in direct payments. Unemployment insurance would pay an additional $400 weekly through September.
The plan would also extend the eviction and foreclosure moratorium through September. It would expand tax credits for children and child care, in addition to providing aid for child care providers. The federal minimum wage would grow to $15 an hour, up from $7.25 currently.
The plan would offer $20 billion in aid to public transit agencies, as well as grants and loans to small businesses.
