Biden to unveil economic plan as US recovery buckles

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President-elect Joe Biden on Thursday will unveil his plan to revive the US economy, as evidence mounts that its recovery from the coronavirus pandemic is flagging despite trillions of dollars in government spending.

The latest government data shows the economy shedding jobs in December and weekly layoffs continuing at a pace above the worst of the 2008-2010 global financial crisis.

Biden’s stimulus is likely to build on the two massive relief packages Congress approved in 2020, and include an extension of unemployment benefits that have helped tens of millions of people pay their bills after losing their jobs during the pandemic. The president-elect called $600 stimulus checks included in the aid package approved in the final days of December “simply not enough,” and said he will push to raise the payments.

Joe Manchin, a Democratic senator of the party’s moderate wing, already has made comments in US media indicating he is hesitant to support $2,000 checks.That would be an early test for Biden, who promised more relief to Georgia voters who gave two crucial Senate seats to Democrats in a runoff election last week.

 

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