President-elect Biden Releases COVID-19 Relief Package Plan

On January 14, U.S. President-elect Joe Biden announced a $1.9 trillion “American Rescue Plan” to change the course of the COVID-19 pandemic. The bipartisan relief package that Congress passed in December was a step in the right direction, but more needs to be done, he said.

Among the plan's provisions that may affect our industry's workforce and operations are:

  • $50 billion toward Covid-19 testing
  • $20 billion toward a national vaccine program in partnership with states, localities and tribes
  • Direct payments of $1,400 to most Americans, bringing the total relief to $2,000, including December's $600 payments
  • Increasing the federal minimum wage to $15 per hour
  • Increasing the federal, per-week unemployment benefit to $400 and extending it through the end of September
  • Extending the eviction and foreclosure moratoriums until the end of September
  • $350 billion in state and local government aid
  • $170 billion for K-12 schools and institutions of higher education

The plan is intended to be Biden’s first step in an aggressive, two-step plan for pandemic relief and recovery. Another major initiative, expected in February, will address longer-term goals, including creating jobs, reforming infrastructure, combating climate change, and advancing racial equality.

The 100-Day Outlook

“Joe Biden is entering the White House with an expansive agenda that includes taming the coronavirus, reshaping the economic recovery, overhauling climate policy and rethinking the power of tech companies,” Politico reports.  Read their complete analysis here, and see this blog by IPC’s Chris Mitchell on what Biden’s plans could mean for the electronics manufacturing industry.

One “wild card”: The impeachment trial of outgoing President Trump could create fresh obstacles to moving swiftly on Biden’s priorities.

IPC is working towards scheduling meetings ASAP with incoming administration officials to discuss the critical needs of the U.S. electronics manufacturing industry. Please let us know if you have any input on IPC’s message, and stay tuned for a slew of new proposals and advocacy opportunities in the weeks ahead.