US President Joe Biden’s push for the $1.8 trillion coronavirus stimulus package took a step forward as the House Committee introduced the legislation. The Democrats aim to pass the bill that would lift the economy and pay stimulus checks to unemployed individuals by the end of next week.
The proposed bill was drafted by House Budget Committee would carry the US president’s decision to provide additional money for the coronavirus shots and other critical medical equipment. Amid an effort to scale up the production of vaccine shots, Biden visited the Pfizer vaccine development facility. So far, the health officials have inoculated fifteen percent of the American population.
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Referring to Biden’s criticism, he stated that he was open to cutting down the price tag of the proposed coronavirus stimulus package. The major components of the bill aim to stimulate the beleaguered economy hardly-hit by the pandemic outbreak that has killed more than 493,000 Americans so far.
The plan would direct stimulus payments to unemployed residents, aid to local and state government, and numerous other coronavirus-related steps. On the other hand, the Democratic House Speaker Nancy Pelosi stated that she was aiming to pass the bill in the lower chamber of Congress by the end of next week.
Besides, Senate Majority Leader Chuck Schumer stated that the deeply divided upper chamber will pass the bill by the second week of March when federal unemployment benefits are set to expire. Another controversial component of the bill is the proposed gradual increase in the federal minimum wage from $7.25 an hour to $15 an hour by the end of 2025. On Monday, the House Budget Committee is set to meet to discuss the amendments to the spending bill before sending it to the upper chamber.
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