U.S. with the largest economic stimulus package in history

U.S. with the largest economic stimulus package in history


Highlight:

  • U.S. with the largest economic package in history
  • The U.S. Kovid package accounts for 27 percent of GDP
  • Priority should be given to wiping out Kovid and reviving the economy

The US is coming up with the largest economic stimulus package in the history of the country. The stimulus package is worth $ 1.9 trillion. The US House of Representatives approved it today. The economic package is tipped to be Joe Biden’s most successful move since taking over the US presidency.

$ 40 billion has been set aside to pay $ 14 billion each for direct payments to U.S. citizens. State and local governments will continue to receive $ 350 billion in funding, child tax credit and funding for vaccine distribution. The U.S. has begun efforts to vaccinate 100 million people in 100 days.

Also Read: Business is not easy; More than 10,000 companies have closed in the past year

The Democratic Party spokesman said it was a historic day and the final stage of the Kovid struggle. Millions of people have lost their jobs in the U.S. due to the unexpected Covid crisis.

At the same time, the Republican Party argues that Biden’s Kovid financial package is too expensive and that the priority allocation is unnecessarily high.

Biden announced a number of concessions during the Kovid period. The foreclosure proceedings were extended and the repayment of the education loan was stopped. The new package is aimed at revitalizing areas affected by the Kovid crisis and renovating businesses. The Kovid package is estimated to account for about 27 percent of U.S. GDP.

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