President-elect Joe Biden will unveil a new round of stimulus relief checks that he aims to push out on Day #1 of his administration.
It will be a narrowly focused relief package, which would increase the direct payments to Americans making less than $75,000 from $600 to $1,400.
What would that mean for Americans who already received stimulus checks? Additional checks worth $1,400 would be sent. Those who did not receive a $600 check, could in theory, see $2,000 checks instead. But timing could complicate that part.
The new deal pushed by the Biden administration would be focused gaining Republican support. It would also extend unemployment benefits.
The administration would then focus on developing a larger, broader recovery plan down the road.
The overall price tag of the deal will be below $2 trillion.
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