Biden to outline $1.9 trillion 'COVID Rescue Plan' in evening remarks
Biden will propose a $1.9 trillion, “American Rescue Plan" to address the ongoing COVID-19 vaccination effort and immediate economic need to Americans in evening remarks, transition officials disclosed on a call with reporters Thursday.
According to officials on the call, the rescue policy is only one part of Biden’s overall policy, with a “recovery” phase expected to be introduced in February. They said Biden’s rescue policy will include three components: Tackling vaccine distribution, ramping up testing and getting kids back in school within the first 100 days of his administration; delivering $1,400 per-person direct stimulus checks and expanding unemployment benefits, including $400 weekly benefit through September on top of state benefits; and delivering aid to states and communities to support small businesses, addressing housing insecurity by expanding the eviction and foreclosure moratorium through Sept. 2021.
More than $1 trillion of the $1.9 trillion price tag will be used for direct stimulus, officials said, while $400 billion will go toward COVID-19-related projects, including the nationwide vaccination program, and $440 billion will go toward relief for communities and businesses.
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Biden will also call for Congress to provide $350 billion for state local and territorial governments, an effort to keep essential workers on the job.
If enacted, it would be one of the largest and most expensive economic stimulus packages in U.S. history.
-ABC News Molly Nagle, John Verhovek, Beatrice Peterson and Averi Harper