Joe Biden's Stimulus Plan Includes Another Round Of Checks To Americans

President-Elect Joe Biden is already discussing plans for the next coronavirus relief bill.

The future 46th president of the United States touted his Emergency Action Plan to Save the Economy during his presidential campaign. The document outlines the direction Biden might take once he takes office in late January, including stimulus aid for Americans, unemployment benefits and more.

"Our work begins with getting COVID under control," Biden said during his victory speech Saturday night (November 7). "We cannot restore the economy…until we get it under control."

Biden's proposal has some elements of the CARES Act, a $3 trillion bill passed in March to help struggling Americans and businesses during the COVID-19 pandemic. One of the more popular features was the $1,200 stimulus check eligible Americans got. The plan didn't specify how much the checks would be or if the qualifications will change. It did note more direct stimulus payments.

Student loans were also on the table for Biden's proposal. CNET reported that the plan would offer federal loan forgiveness with a $10,000 minimum, something Sen. Elizabeth Warren outlined in her own plan back in September. Student loan forbearance was part of the CARES Act and was extended until the end of 2020.

Biden didn't specify plans for unemployment benefits, but he did note that they will be boosted. The plan also outlines more money for small businesses, emergency sick leave, fiscal relief for states, and an additional $200 to Social Security monthly payments.

Congressmen are currently negotiating for more stimulus relief, which may include another round of direct payments. Biden is expected to detail more of his coronavirus response plans next week.

Photo: Getty Images

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