We have talked about Democratic presidential candidate Joe Biden’s healthcare plan if he were to take office in November, but what about his plans for additional COVID-19 financial aid? Biden’s economic advisors have confirmed that the former VP would be pushing for another stimulus package. Here is what we know.
Some of Biden’s economic advisers are growing worried that the nation’s economy, ravaged by the coronavirus pandemic, is worsening by the day and have raised concerns about the potential for business bankruptcies, supply chain disruptions, evictions, and multibillion-dollar deficits in state and local budgets, according to Axios.
“We have always contemplated the need for additional stimulus,” said Jake Sullivan, a senior policy adviser to Biden. “We will confront the situation we find in January.”
“Trump may have forgotten about COVID, but COVID hasn’t forgotten about us.” -Biden
But Mike Gwin, deputy rapid response director for the Biden campaign, told reporters that the Biden campaign is not currently proposing or designing such a package, nor is it eyeing any dollar figure for a January relief package.
“Our focus is on holding Donald Trump accountable for doing his job today,” Gwin said. “He should be bringing together the leaders of Congress to pass a comprehensive relief measure right now that will help working families, small businesses, schools, hospitals, and state and local governments. Why is he stalling?”
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Understanding the “Build Back Better” plan
If Joe Biden wins the presidency, he might need a trillion-dollar stimulus bill in January, just to buy enough time to push through his nearly $3 trillion “Build Back Better” plan later in spring 2021. That’s according to Biden advisers who are growing increasingly worried that the economy is deteriorating by the day.
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Biden has already unveiled this part of his broad economic vision for the country, and some or all of this would no doubt make its way into a more immediate stimulus plan — such as, another round of stimulus checks.
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Look for a Biden administration to also launch an $8,000 annual tax credit for parents who have young children.
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Paying for health insurance for people who’ve just lost their job is another idea, as well as pushing for greater paid sick leave benefits for workers.
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Biden’s economic roadmap includes strengthening unemployment systems and pushing for greater benefits for the newly jobless.
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