The US Senate passed the Biden administration's first bill for economic measures totaling 200 trillion yen, which is expected to be passed by the middle of this month.
The content emphasizes workers and households that have been hit by the effects of the new coronavirus.
On the 6th, the US Senate passed a bill for economic measures totaling $ 1.9 trillion (200 trillion yen in Japanese yen) for the new coronavirus.
This economic measure is the first large-scale fiscal mobilization since the inauguration of the Biden administration, and it emphasizes workers and households, such as cash benefits of 150,000 yen in Japanese yen and measures to extend the accumulation of unemployment insurance until September. It has become.
Normal budgeting requires three-fifths of the Senate to approve, but this time the ruling and Democratic parties passed a resolution that could be passed with a majority of the votes, with 50 in favor and 49 against. ..
President Biden called for unity and sought an early establishment, but the Republican Party, which emphasizes fiscal discipline, could not come to terms with a reduction in budget scale, resulting in a single vote. ..
The bill has been partially amended and will be deliberated again in the House of Representatives and is expected to be passed with the signature of President Biden by mid-month.
President Biden "takes a big step"
President Biden praised the passage of the bill in the Senate, telling reporters at the White House on the 6th that he had "taken a big step."
"This measure will guide us on the path to overcoming the virus and give the most suffering families the support they need to overcome this hardship," he said, reiterating the need for economic measures. I emphasized.
He said, "I hope it will be passed by the House of Representatives early and I can sign it," and called on the House of Representatives to pass the bill promptly.
Contents of "American Rescue Plan"
This 200 trillion yen economic policy is named "American Rescue Plan" and emphasizes the relief of workers and households.
The main contents.
1. Cash benefits
President Biden was particular about
providing
cash directly to households.
High-income earners are excluded from the benefits, but a maximum of $ 1,400 per person and approximately 150,000 yen in Japanese yen will be paid.
The economic measures of March last year during the Trump administration provided a maximum of $ 1200, and the measures of December last year also provided a maximum of $ 600. This is the third time under the Corona disaster.
[2. Extension of unemployment insurance] As a
measure against unemployment,
the extension
of measures to increase unemployment insurance has also been included.
We will extend the $ 300 per week benefit until early September.
[3. Vaccine dissemination]
The budget for disseminating vaccination has also been included to prevent the infection of the new corona, which the Biden administration is working on as the most important issue.
[4. Relief of states and local governments]
It also includes support for states and local governments whose finances have deteriorated due to the response to the new corona.
[5. Support for resuming school] In
addition, subsidies for the introduction of equipment to safely resume school lessons are included, and it is clearly stated that efforts will be made to ensure that there is no difference in education in the region.
The background to President Biden's enormous fiscal stimulus is that there is a sense of crisis that the economic disparity will widen as the employment environment for low-income earners continues to be severe even as the economy recovers. Can be done.
On the other hand, the view that huge economic measures may overheat the economy has led to a rise in long-term interest rates, which has led to turmoil in the stock market and bond market, making it difficult to steer economic policy. It seems to increase.