Bigger Amount Coming? 3 Things You Should Know About Joe Biden's Stimulus Plan

By Neil P. First Posted: Nov 08, 2020 06:13 AM EST

President-elect Joe Biden laid out his plan for the benefits to be included in the second round of stimulus package that will give bigger amounts.

(Photo : Reutersconnect)
Democratic 2020 U.S. presidential nominee Joe Biden celebrates onstage at his election rally, after the news media announced that Biden has won the 2020 U.S. presidential election.

The race for the U.S. Presidency is finally over and Democratic Presidential candidate Joe Biden declared his victory on Saturday night. He will be the 46th President of the United States but his term will start after his inauguration on January 20.

Joe Biden said during his victory speech on Saturday that on Monday, he will meet with a group of leading scientists and experts to help him start plotting plans to fight the global pandemic.

It is undeniable that U.S. remains to have the highest number of COVID-19 infections and deaths across the country, which is why curbing coronavirus cases is Biden's top priority.

Part of President-elect Joe Biden's plan is to give more stimulus aids. During his campaign, he created the Emergency Action Plan to Save the Economy. This is a document that gives direction once he will take the office of the U.S. Presidency.

Will Americans receive a bigger amount?

However, passing another round of stimulus package is still unpredictable. Both chambers have a different stand on the total amount of the package.

Even Republican Sen. Mitch McConnell said that his first job is to deliver a stimulus package before 2021, but the amount could be smaller.

Meanwhile, Biden's plan features some provisions under the CARES Act such as direct stimulus payment and more unemployment benefits.

The new president also envisions new measures to provide more financial aids to millions of Americans. Here are some of the measures under Biden's plan for a new stimulus package, according to CNET:

1. Direct Stimulus Check

The $1,200 direct stimulus check was one of the most popular financial measures under the CARES Act which was signed into law last March. It provided relief aid to more than 160 million Americans across the country and was sent to negatively impacted Americans in the country.

This will remain as part of Biden's plan as he takes his post. However, it is still not clear if the amount will still be the same or if it will be higher. There are no updates also if there will be changes for the qualifications of the recipients or some revisions on the requirements before receiving the stimulus check.

2. More Unemployment Benefits

After the federal government declared a nationwide lockdown, almost all businesses decided to shut down their operation that led to millions of individuals unemployed and furloughed.

The CARES Act provided qualified unemployed individuals to claim weekly $600 on top of the state's jobless benefits.

Meanwhile, Joe Biden did yet give the specifics of his plan for the unemployment benefits but he said that he will boost the weekly unemployment claims.

3. Bigger Social Security Checks

There were no revisions made under the CARES Act or any other relief measures that increase the Social Security benefits. However, Joe Biden plans to boost the Social Security checks by adding $200 every month in the said benefit.

President-elect Joe Biden's additional plans in his administration are the Federal Student Loan Forgiveness, more PPP loans, emergency sick leave for anyone who needs it, state and local funding, and free COVID-19 testing, treatment, and vaccine.