Biden, less than three weeks into his presidency, has declared that defeating the virus and fixing the economy are his top priorities.
The proposal by the Ways and Means Committee, which plans to vote on it by week’s end, would also expand tax credits for families with children, for lower-earning people and for Americans who buy health insurance on marketplaces created by former President Barack Obama’s Affordable Care Act. It would also provide health care subsidies for some unemployed workers.
Spending by Ways and Means, one of Congress’ most powerful committees, is expected to exceed USD 900 billion, nearly half of Biden’s overall plan.
The House Education and Labour Committee also previewed its plans on Monday, a roughly USD 350 billion package that includes USD 130 billion to help schools reopen safely, USD 40 billion for colleges battered by the pandemic and gradually raising the federal minimum wage to USD 15 an hour.
Top Democrats hope the House will approve the complete bill later this month and send a final House-Senate version to Biden for his signature before mid-March, when crucial emergency unemployment benefits will otherwise expire.