The New Paper

January 15, 2021

Biden unveils new stimulus plan

President-elect Biden unveiled a new coronavirus-related stimulus plan yesterday. The “American Rescue Plan” calls for $1,400 payments to most Americans, vaccine funding, increased minimum wages, and extended unemployment benefits (source). The plan, if approved by Congress, would be expected to cost ~$1.9T.

More context: The proposal follows several coronavirus-related stimulus bills passed last year, including a $2T package passed in March and a $900B package passed in December.
This story is from the January 15, 2021 edition of The New Paper – a clear, concise daily briefing that makes fact-first news easy to consume. Try it today.