President Elect Biden disclosed the details of a $1.9 trillion coronavirus rescue package designed to support households and businesses through the pandemic.

The proposal, called the American Rescue Plan, has several familiar stimulus measures in the hope the additional support will sustain Americans and small businesses until the COVID-19 vaccine is widely dispensed.

Getty Images
Getty Images

Here’s what Biden calls for:

Direct payments of $1,400 to most Americans, bringing the total relief to $2,000, including December’s $600 payments

Increasing the federal, per-week unemployment benefit to $400 and extending it through the end of September

Increasing the federal minimum wage to $15 per hour

Extending the eviction and foreclosure moratoriums until the end of September

$350 billion in state and local government aid

$170 billion for K-12 schools and institutions of higher education

$50 billion toward Covid-19 testing

$20 billion toward a national vaccine program in partnership with states, localities and tribes

Making the Child Tax Credit fully refundable for the year and increasing the credit to $3,000 per child ($3,600 for a child under age 6)


The Biden plan is the first of two major spending initiatives. The President Elect will seek in the first few months of his presidency, according to Biden officials.

The second bill, expected in February, will tackle Biden’s longer-term goals of creating jobs, reforming infrastructure, combating climate change and advancing racial equity.

Senior Biden officials, who have been working on the stimulus plan for weeks, also confirmed that the president-elect still supports $10,000 in student debt forgiveness.

Sen. Marco Rubio, R-Fla., offered early bipartisan support for Biden’s spending plans. Earlier this week, Rubio implored the president-elect to make direct payments of $2,000 a top priority.

KEEP READING: 50 community resources supporting Americans financially impacted by COVID-19

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