Joe 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.With his fellow Democrats narrowly controlling both houses of Congress, Biden appear...
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.

With his fellow Democrats narrowly controlling both houses of Congress, Biden appears to have a good shot at passing a third massive rescue package that could include everything from another round of stimulus payments to tax hikes on the rich to an increase in the minimum wage.

"We need more direct relief flowing to families (and) small businesses, including finishing the job of getting people the $2,000 in relief," Biden said last week, referring to the last package that provided payments of $600 in direct payments.

The funds could help revitalize a recovery that appears to be buckling under the weight of the nationwide surge in Covid-19 cases.

The latest government data shows the economy shedding jobs in December and weekly layoffs continuing at a…
Agence France-Presse
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