United States: big bosses call for support for Joe Biden's recovery plan
The plan to support the economy wanted by Joe Biden is in the amount of 1,900 billion dollars.
AFP / File
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In the United States, the recovery plan presented on January 14 by Joe Biden is submitted, this Friday, February 26, to a vote in the House of Representatives.
Although it has a good chance of being approved, the big bosses are mobilizing and encouraging Congress to adopt it.
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To respond to the health and economic crisis, Jo Biden submits to a vote in Congress his massive stimulus plan of 1,900 billion dollars, or 15% of US GDP.
To be approved, it must obtain the approval of Democrats and Republicans, but for the moment, there remain points of tension such as, for example, the doubling of the minimum wage to 15 dollars an hour by 2025.
This support plan provides direct aid to families with the individual check of $ 1,400 for each American with an income below $ 75,000.
It must also finance screening tests, vaccination, the extension of unemployment insurance, housing and nutrition assistance, but also support companies including those in the aeronautics and tourism sectors, two sectors devastated by the pandemic.
For the big American bosses, it is urgent.
In a joint letter to Congress, more than 150 of them call for immediate adoption of the new plan.
Joe Biden also enjoys the support of Wall Street and the Fed, the US Federal Reserve.
Its boss, Jérôme Powell, is committed to maintaining an extremely flexible monetary policy, even in the event of an improvement in the labor market.
On the other hand, some renowned economists are showing their concern.
They fear that this massive aid will cause the economy to overheat, leading to inflation.
► To read also: Should we be afraid of the return of inflation?
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United States
Joe biden
Coronavirus
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