President-elect Joe Biden unveiled a $1.9 trillion economic stimulus package proposal to lift the U.S. economy as well as its people, badly hit by the coronavirus pandemic.
The relief proposal includes $1 trillion in direct relief to households, $415 billion to fight the pandemic and $440bn for small businesses and worst-affected communities.
In addition to the $600 in direct payments previously announced in a relief bill, stimulus payment checks worth $1,400 would be issued to each individual.
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Political News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.