stimulus
Washington (AFP) - President Joe Biden's administration is considering spending $3 trillion on infrastructure in the United States, split into two bills that face narrow paths to approval in Congress, US media reported on Monday. The infrastructure plan would follow the $1.9 trillion American Rescue Plan Biden signed earlier month, which was aimed at helping the world's largest economy recover from the damage done by the Covid-19 pandemic. Biden, who took office in January, vowed to pass a second bill aimed at improving infrastructure in the United States and creating jobs, and US media report...
AFP
Washington (AFP) - President Joe Biden's $1.9 trillion stimulus will start flooding into the US economy soon, and some analysts say much of that money could end up invested in stocks or even bitcoin. Over the weekend, the government began sending the $1,400 direct payments that will go to nearly everyone in the United States. About $400 billion in payments will flow directly to households, going to individuals earning less than $75,000 a year or married couples making up to $150,000, as well as their children. And that does not count child tax credits or unemployment benefits in the massive p...
AFP
Washington (AFP) - A flood of money for Covid-19 vaccines, stimulus checks and unemployment benefits is set to flow into the US economy this week, with Congress's expected approval of President Joe Biden's $1.9 trillion stimulus package. The bill -- approved by the Senate on Saturday and set for a vote in the House on Tuesday -- will pay for programs credited with helping the world's largest economy survive the mass layoffs and business disruptions sparked by the Covid-19 pandemic. In a departure from previous relief measures, the package also specifically targets poverty by expanding tax cre...
AFP
Washington (AFP) - As lawmakers on Thursday inched closer to a new stimulus package to help the pandemic-battered US economy, government data showed more workers were applying for unemployment benefits as the recovery stalled. A government relief package to aid struggling businesses and jobless workers is seen as essential in getting the world's largest economy back on its feet amid a resurgence of Covid-19 infections, even as new vaccines offer hope that life can return to normal. Without an agreement, millions of unemployed workers will lose their special pandemic benefits before the end of ...
AFP
Wilmington (United States) (AFP) - President-elect Joe Biden presented his economic team on Tuesday and pledged they would lead the charge on a plan to provide more relief for the faltering US economy, which his nominee for Treasury secretary called an "American tragedy."The diverse group, featuring women and minorities in key roles, is set to inherit the fallout from millions of job losses -- including an ongoing wave of corporations laying off workers and small businesses shutting their doors as the number of virus cases spikes.Even with good news on possible vaccines, economists warn they m...
AFP
Wilmington (United States) (AFP) - President-elect Joe Biden on Tuesday called on Congress to quickly approve a "robust" aid plan to address the Covid-19 economic crisis, which his pick to lead the US Treasury called a "tragedy" for American families.As he presented his economic team, including former Federal Reserve chief Janet Yellen as Treasury secretary, Biden said his administration will push for even more measures to right the economy reeling from the damage wrought by the coronavirus pandemic."I know times are tough, but I want you to know that help is on the way," Biden said at the eve...
AFP
Washington (AFP) - US President Donald Trump, falling behind in the polls against Democrat Joe Biden ahead of the November election, on Wednesday urged his Republican Party to back a big-spending coronavirus stimulus package.Trump blamed "heartless" Democrats for Congress' failure to agree on another bill injecting cash into struggling households and businesses after months of virus lockdowns.But in a tweet, he told Republicans to "go for the much higher numbers," saying Congress must give "STIMULUS PAYMENTS to people who desperately need the money, and whose fault it was NOT that the plague c...
AFP
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