Joe Biden announces US economic relief package worth $1.9 tn

"A crisis of deep human suffering is in plain sight and there's no time to waste," said President-elect Joe Biden.

President-elect Joe Biden unveiled $1.9 trillion US economic relief package on Thursday to stimulate the US economy that crashed during the COVID-19 pandemic. If it is passed by the Congress, $1tn will be provided for households including $1,400 direct payment to all American citizens. The relief package also includes $415bn to fight the pandemic that plunged the nation into economic depression and $440bn for small businesses to help them thrive. $1,400 is an addition to $600 payments that were provided in a relief bill enacted last month.

Mr Biden said in a prime time speech on Thursday, "A crisis of deep human suffering is in plain sight and there's no time to waste." He added, "The very health of our nation is at stake. We have to act and we have to act now." Mr Biden had promised to beat the pandemic when he campaigned for election. COVID-19 has taken more than 385,000 lives in the US. 

At present, approximately 11 million people are jobless across the country for whom supplemental benefits will be increased from $300 to $400 per week. Mr Biden will also call on Congress to double the federal minimum wage to $15 an hour. Evictions and home repossessions would also be suspended.