Joe Biden’s 1.9 trillion USD plan

The United States President elect Joe Biden recently announced 1.9 USD “American rescue plan”. It is a covid-19 stimulus package.

Key features

• The plan will provide 130 billion USD to help the schools in the United States to reopen safely within the first hundred days of the presidency of Biden.
• Eligible individuals are to be provided with 1,400 USD of stimulus payments.
• The package includes 415 billion USD to bolster the response to covid-19 virus and also to roll out the covid-19 vaccine.
• The package includes one trillion USD direct relief to households.
• it will provide 440 billion USD to develop the small businesses and communities particularly to those that are hardly hit by the covid-19 pandemic.
• And unemployment insurance of 400 USD per week is to be provided. Earlier it was 300 USD per week.

Covid-19 vaccine in United States

According to the United States Centres for Disease Control and prevention more than 9 million Americans have been provided with the covid-19 vaccination dose as of January 11, 2021.

Recently the United States Food and Drug Administration issued the first emergency use authorisation of Pfizer COVID-19 vaccine. The moderna vaccine was the second vaccine to receive emergency use authorisation in the country.

Operation Warp Speed

It is a public private partnership that was initiated in the United States to facilitate and accelerate the development, manufacturing and distribution of covid-19 vaccine. The operation was launched by the government of United States. It was announced in May 2020.

The operation promotes mass production of multiple vaccines and fast distribution. It promotes different types of vaccine Technology. The operation was initially funded with 10 billion USD from the CARES Act.

CARES Act of US

CARES Act is the Coronavirus Aid, Relief and Economic Security Act. It was a 2.2 trillion USD economic stimulus Bill passed by the US Congress in March 2020 in response to the economic fallout of covid-19 pandemic in the United States of America. It included three hundred billion USD of one-time cash payment to individual Americans, 350 billion USD to the small businesses under the Paycheck Protection Programme, 260 billion USD to increase unemployment benefits.

Month: Current Affairs - January, 2021