Biden to Sign $1.9 Trillion Covid Stimulus Bill Friday at White House: Psaki

Bloomberg Quicktake: Now published this video item, entitled “Biden to Sign $1.9 Trillion Covid Stimulus Bill Friday at White House: Psaki” – below is their description.

White House Press Secretary Jen Psaki said Wednesday that following the expected passage in the U.S. House of President Joe Biden’s $1.9 trillion Covid stimulus relief package today, Biden will sign the bill into law in a ceremony on Friday at the White House.

The House is poised to send the $1.9 trillion Covid-19 relief plan to President Joe Biden for his signature, providing an economic boost that will last long after $1,400 stimulus checks start arriving in Americans’ accounts this month.

With four days until supplemental unemployment benefits begin running out, House Democratic leaders are planning for passage Wednesday. While a Republican congresswoman delayed the schedule, the final vote is still expected in the afternoon.

The bill is far bigger than initial Wall Street expectations of what could be accomplished in a closely divided Congress. It provides a template for a potential longer-term expansion of an American social-safety net that has long been much smaller than its European counterparts. Democrats say the near-$110 billion temporary expansion of the child-tax credit will help cut child poverty in half, while tax forgiveness on jobless benefits and student-debt relief will give help to millions more.

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