| The next 100 days that will make or break the economy |
| | Good morning,
Just as Joe Biden becomes the 46th president of the United States, the dual economic and health crises hitting the country are at their zenith: 400,000 Americans have lost their lives to Covid-19, and 18 million more are on unemployment rolls.
It's little wonder, then, that Biden plans to spend his first 100 days fixing the botched rollout of the vaccine and repairing the U.S. economy--both welcome goals among the millions of small businesses still fighting for survival. In a mid-December U.S. Chamber of Commerce poll, 48 percent of small businesses said their fiscal health was average or poor. At least 80 percent of those surveyed were concerned about Covid-19's impact on the economy. An estimated four million small businesses closed their doors in 2020, according to Ray Greenhill, president and founder of Oxxford Information Technology, an information services firm in Hagaman, New York, which tracks about 32 million businesses.
The centerpiece of Biden’s strategy: his “American Rescue Plan,” a new $1.9 trillion Covid-19 relief bill that includes $440 billion for communities and small businesses. That money would likely include new grant and lending programs, an expansion of unemployment benefits, direct payments to most Americans, and more. Biden is expected to formally present his plan before a joint session of Congress next month, alongside new proposals for immigration policy and nationwide Covid safety.
Read our story for the full breakdown of Biden’s plan for his first 100 days in office--both economic and otherwise--and how it’ll affect you. |
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