Biden nods that Democrats are willing to compromise the new stimulus plan of the United States

category:Finance
 Biden nods that Democrats are willing to compromise the new stimulus plan of the United States


The great concession of the Democratic Party

According to the new proposal, the stimulus plan will include $288 billion for SME assistance, and $180 billion for unemployment benefits, and $160 billion for state and local governments.

For the Democratic Party, this is a big concession to the current situation. Pelosi and Schumer mentioned in the joint statement that:

Although we put forward new proposals to McConnell and McCarthy on Monday, we believe that the framework proposed by the senators yesterday should be the basis for immediate negotiations between the two parties.

For a new round of fiscal stimulus, McConnell only agrees with the scale of $500 billion. According to the Washington Post, the stimulus he privately talked about on Tuesday was smaller and only $300 billion, far from meeting the expectations of the Democratic Party.

Bidens recognition

The above-mentioned $908 billion new stimulus plan has been approved by US President-elect Biden. However, in his view, even if it is passed, it is only a temporary measure, and there will be further stimulus after he takes office.

At a virtual round table meeting with workers and small business representatives on Wednesday, Biden said the amount could not fundamentally solve the problem and could only be regarded as a down payment at most, but the US Congress still needs to pass it as soon as possible. He said: its not a political game, its really affecting peoples lives and families. We need help as soon as possible. Americans, including you, really need help now. But while calling on Congress to act, he is not optimistic about the outcome, saying that as long as trump is still at the helm of the White House, the proposal is unlikely to be passed, so, everything is back to the far point. Its clear that I dont have the ability to get help for you right now, Biden told workers at the meeting Source: Wall Street news editor: Yang Bin_ NF4368

At a virtual round table meeting with workers and small business representatives on Wednesday, Biden said the amount could not fundamentally solve the problem and could only be regarded as a down payment at most, but the US Congress still needs to pass it as soon as possible. He mentioned:

This is not a political game, it is affecting peoples lives and families.

We need help as soon as possible. Americans, including you, really need help now.

But while calling on Congress to act, he is not optimistic about the outcome, saying that as long as trump is still at the helm of the White House, the proposal is unlikely to be passed, so, everything is back to the far point.

Its clear that I dont have the ability to get help for you right now, Biden told workers at the meeting