Biden previews COVID-19 proposal 'in the trillions of dollars'

President-elect Joe Biden Joe Biden US judge blocks Trump administration’s restrictions on asylum eligibility McConnell circulates proce...


President-elect Joe BidenJoe BidenUS judge blocks Trump administration’s restrictions on asylum eligibility McConnell circulates procedures for second Senate impeachment trial of Trump Top Trump official rescinds then reissues resignation letter to say departure is in protest MORE on Friday previewed a COVID-19 relief bill that he said would be “in the trillions,” setting the stage the first major legislative battle of his presidency.

“As I’ve said before, the bipartisan COVID relief package passed in December is an important step, but just a downpayment,” Biden said in a speech announcing new Cabinet nominees.

“Next week, I will be laying out the groundwork for the next COVID economic relief package that meets this critical moment for our economy and country,” he added.

Biden outlined several provisions of the bill, which appear to line up with some of his campaign promises on coronavirus relief.

Among them was “billions of dollars” to improve the vaccine rollout, extending unemployment benefits set to expire in March and April, action on housing and sending out $2,000 stimulus checks.

Biden criticized the size of the direct payments from the $900 billion relief bill passed last month, saying $600 “is simply not enough when you have to choose between paying rent or putting food on the table and keeping the lights on.”

Biden said his relief package would also focus on investments regarding infrastructure and health care.

“The price tag will be high,” Biden said, but argued that investing in the economy now would pay off, and even help keep the debt under control.

“If we don’t act now, things are going to get much worse, and it’ll be harder to get out of the hole later,” he added.

The cost is likely to spark massive GOP opposition. Senate Republicans have raised concerns about the deficit in their push to keep COVID-19 relief spending on in the hundreds of billions of dollars, whereas Democrats have backed spending that’s north of $3 trillion.

But having won control of the Senate, Democrats can attempt to pass a package through budget reconciliation, a process that would allow them to pass legislation with a simple majority, effectively sidelining GOP objections.

But the process includes severe limitations, and may not allow Democrats to advance key parts of their legislative and economic agenda.

It also requires unanimity among all 50 members of the Senate Democratic caucus, and few defections among Democrats in the House, where the party also holds a slim majority.

That may lead to some infighting. Sen. Joe ManchinJoseph (Joe) ManchinHillicon Valley: Twitter permanently suspends Michael Flynn, Sidney Powell and others | Laptop stolen from Pelosi’s office during Capitol riots | Reddit bans r/DonaldTrump forum Biden previews COVID-19 proposal ‘in the trillions of dollars’ Manchin on proposed round of K checks: ‘Absolutely not’ MORE (D-W.Va.) raised doubts about the viability of $2,000 checks this week.

“Absolutely not,” the moderate Democrat told The Washington Post on Friday when asked if he would support new checks for that amount. He went on to clarify that any additional direct payments should be targeted, but that he wouldn’t rule out more checks altogether.

The Blue Dog Democrat coalition in the House could also balk at the price tag, though members have signaled support for some deficit spending during a time of crisis, despite their usually hawkish fiscal approach.

Biden on Friday made his position clear.

“We should be investing in deficit spending in order to generate economic growth,” he said.



Source link

COMMENTS

Name

Africa,743,Americas,3953,Art & Culture,14307,Arts,6348,Arts & Design,1539,Asia,3130,Automobile,426,Baseball,517,Basketball,413,Books,3740,Business,5183,Celebrity,2606,Cricket,621,Crime,134,Cryptocurrency,1404,Dance,600,Defense,812,Diplomatic Relations,2467,Economy,1024,Editorial,260,Education,1129,Elections,301,Energy & Environment,3002,Entertainment,22188,Environment,3482,Europe,4077,Faith & Religion,218,Family & Life,789,Fashion & Style,3102,Finance,19119,Food & Drink,3592,Football,1039,Games,86,Gossip,10260,Health & Fitness,3933,Health Care,885,Hockey,192,Home & Garden,896,Humour,966,Latin America,49,Lifestyle,16352,Media,505,Middle East,1414,Movies,1595,Music,2502,Opinion,2758,Other,11351,Other Sports,4883,Political News,11265,Political Protests,2296,Politics,17368,Real Estate,1703,Relationship,64,Retail,3085,Science,2489,Science & Tech,9545,Soccer,172,Space & Cosmos,289,Sports,11537,Technology,3285,Tennis,516,Theater,1576,Transportation,290,Travel,2454,TV,3545,US Sports,1451,Video News,3531,War & Conflict,1041,Weird News,967,World,15683,
ltr
item
Newsrust: Biden previews COVID-19 proposal 'in the trillions of dollars'
Biden previews COVID-19 proposal 'in the trillions of dollars'
https://thehill.com/sites/default/files/bidenjoe_01072021getty.jpg
Newsrust
https://www.newsrust.com/2021/01/biden-previews-covid-19-proposal-in.html
https://www.newsrust.com/
https://www.newsrust.com/
https://www.newsrust.com/2021/01/biden-previews-covid-19-proposal-in.html
true
732247599994189300
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy Table of Content