Biden wants another $1,9 trillion Covid relief package

President-Elect Joe Biden is urging congress to pass another Covid relief package. This package includes $1,400 direct per person payment, with this there is also $400 per week unemployemnt benefits and increasing child tax credit. He is saying that its time to act now and this cannot wait, more money will also go into vaccines and vaccinations centers. This $1,9 trillion package would add to already existing $900 billion one which was passed in December and it actually bigger in total than first proposed one from Democrats. Previous one was really hard to push through as Democrats didn't have White House and majority in senate, which is now changing as they will have 50 out 100 senators and soon to be Vice President Kamala Harris will have an extra vote in case of a tie. This was also a reason why Democrats agreed to Republican $900 billion package even though it was smaller than what they wanted, but they expected more money to come after Biden takes the office and with majority in senate it will be even easier. (Rubin, Wall Street Journal)

5 views0 comments
  • Facebook
  • Twitter
  • LinkedIn
  • Instagram
  • YouTube

Risk Warning:
Past performance of an investment is no guide to its performance in the future. Investments, or income from them, can go down as well as up. You may not necessarily get back the amount you invested. All opinions, news, analysis, prices or other information contained in our communication and on our website, are provided as general market commentary and do not constitute investment advice, nor a solicitation or recommendation to buy or sell any financial instruments or other financial products or services.

© 2021 Trade Forum Philippines. All rights reserved.