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Joe Biden is poised to launch a COVID-19 economic relief plan worth “trillions” of dollars, the president-elect announced Friday.
The relief plan will target state and local governments as well as provide new support for people who have lost their jobs as a result of the coronavirus pandemic, he said.
Biden’s original plan was for a bill under $1 trillion but he said on Friday that “economic research confirms that with conditions like the crisis today, especially with such low-interest rates, taking immediate action — even with deficit financing — is going to help the economy.”
Biden, who plans to unveil details on Thursday, has also called for raising the minimum wage to $15 — a campaign promise — and wants to hand out $2,000 in cash payments. Democrats tried to hand out similar relief checks in the last COVID-19 support package but were unable to get Republicans to agree to the amount.
“We need more direct relief flowing to families, small businesses, including finishing the job of getting people that $2,000 relief direct payment. $600 is simply not enough,” he said.
Biden takes office Jan. 20.
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