Economic Impacts

$1,400 Checks And Help For The Jobless: What's In Biden's Plan To Rescue The Economy President-elect Joe Biden is proposing a $1.9 trillion plan to address the coronavirus pandemic and the resulting economic crisis. NPR.org

President-elect Joe Biden has long pledged he would deliver an aggressive plan to address the raging coronavirus pandemic and the painful recession it spawned.

PALM BEACH, Fla./WASHINGTON (Reuters) - U.S. President Donald Trump on Sunday signed into law a $2.3 trillion pandemic aid and spending package, officials said, restoring unemployment benefits to millions of Americans and averting a partial federal government shutdown.

Trump, who leaves office on Jan. 20 after losing November’s election, backed down from his threat to block the bill, which was approved Congress last week, after he came under intense pressure from lawmakers on both sides.

The Republican president, who golfed on Sunday and remained out of public view even as the potential government shutdown loomed, had demanded that Congress change the bill to increase the size of stimulus checks for struggling Americans to $2,000 from $600.

It was not immediately clear why Trump changed his mind as his resistance to the massive legislative package promised a chaotic final stretch of his presidency.