Joe Biden officially signed the approval of a bailout package worth 1,900 billion USD

Joe Biden officially signed the approval of a bailout package worth 1,900 billion USD


2021-03-24 01:42:39

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Recently, US President Joe Biden has officially approved a US $ 1,900 billion bailout package to support the people and stimulate the US economy in the face of the COVID-19 epidemic.

After review, President Joe Biden signed and approved the US Rescue Plan Act with a budget of 1,900 billion USD in the Oval Office. “This historic law aims to rebuild the backbone of the country,” he said on March 11.

According to APNews, this is the second largest bailout package in US history after the bailout package of 2,000 billion USD last year.

The notable points in this bailout package are $ 1,400 billion for most Americans, $ 350 billion for state and local governments, and $ 130 billion for schools. In addition, it will provide $ 49 billion to expand COVID-19 testing, traceability, and research, as well as a $ 14 billion deduction for vaccine distribution.

American households (about 85%) will receive a direct support of 1,400 USD / person, they will be able to receive it by the end of this week.

In addition, many Americans are also extended emergency unemployment benefits to the beginning of September, at a level 300 USD/week. Anyone earning less than $ 75,000 / year and couples earning less than $ 150,000 / year will also receive support.

White House chief of staff Ron Klain said initially US President Joe Biden planned to sign March 12, but Mr. Biden signed it earlier than expected after being pushed by many.

“We want the President to quickly sign the bailout law as quickly as possible,” Klain tweeted.

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