On the evening of Thursday, January 14, US Eastern time, Biden will announce the details of a new US epidemic rescue plan, according to CNN, citing people familiar with the matter. Biden's aides recently told allies in Congress that the bailout package is about $2 trillion.
According to a congressman who has been in close contact with the Biden team, although the specific size is still likely to change, the Biden team has "set great goals" for the package.
On Friday, Biden proposed a trillion-dollar stimulus package in his speech. "We need fiscal spending now, and the whole package will reach trillions of dollars." In order to prevent the economic collapse and deterioration this year, we now need to invest a lot of money to develop the economy. "
According to previous media reports, Biden's economic stimulus package will be divided into two steps: the first is to hand out $2000 in cash for each person, and the second is to pass a $3 trillion tax and infrastructure package.
Biden's move surprised Wall Street. The reason is that Wall Street had expected that it would be difficult for the Democratic administration to come up with a stimulus bill of more than $1 trillion. Goldman Sachs, for example, believes that after Biden took office, its stimulus bill was about $750 billion.