Biden plans to increase US government debt and raise taxes on the rich

US President-elect Joe Biden has unveiled a massive economic aid package with which he wants to begin his term as president. The package is called the “Plan to save America”

It is reported by the BBC.

The plan unveiled by Biden envisages $1,400 direct payments to Americans, a temporary increase in unemployment and other welfare benefits, $415 billion for vaccinations and other measures to combat the coronavirus, and $400 billion in aid to small businesses.

“The US will have to increase the national debt to implement the plan, but in the long term Biden plans to patch holes in the budget because of higher income taxes on the rich”, –  the BBC reports.

Biden plans to allocate $20 billion to vaccinate Americans against the coronavirus. He is also talking about setting up mass vaccination centres and sending mobile units to remote areas.

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