U.S. President Joe Biden said he believes the stimulus package will help the country outperform other nations, especially China. The U.S. leader made a statement Saturday at the White House as the $1.9 trillion programs passed in the Senate of Congress.
“It will create millions of jobs, we expect six million jobs. The plan will help increase GDP by $1 trillion, helped surpass the rest of the world. The world is not standing still, especially China,” Biden said.
Confrontation with the U.S. has never led to anything good, he asserted.
“We will overcome this [the effects of the pandemic. We will remain the leading and most successful economy in the world,” the White House chief believes.
As Yang Jiechi, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee and head of the Office of the Foreign Affairs Commission of the CPC Central Committee, said in early February, Beijing has never sought to challenge Washington or take its place in the world and does not intend to share spheres of influence with it.
The stimulus package is based on the U.S. president’s proposed program to deal with the economic consequences of the spread of the new coronavirus. Earlier in the upper house of the American legislature, 50 senators spoke in support of the bill and 49 were against it. The House of Representatives will have to consider the document again since some changes were made to it. In particular, in the Senate version, the increase in the minimum wage was excluded from the text, while an amendment on payments to citizens who lost their jobs was adopted. The weekly grants will be $300, and the benefits program will run through September 6.
The package will provide about $400 billion directly to fight the pandemic. About $1 trillion should be used to help the population, and the rest – to stimulate the economy. Under the program, many Americans will receive a lump sum payment of $1,400.