Economists Seeing A Compromised New Support Package

In the current political scenario, economists in the United States have been predicting that Congress will compromise during the transition phase between Trump and Biden on a modest package. In the event of a rapid deterioration in the health situation, resulting in new lockdowns, economists are assuming an economic stimulus package of between $500 billion and $800 billion to help the Americans who are most impacted by the pandemic.

“On Monday, Joe Biden called on Congress to “quickly” vote on a new strategy to “immediately help the economy, and against the background of the Covid pandemic, predicted a “dark winter. The president-elect repeated his primary campaign goals in a speech from his stronghold in Wilmington, Delaware, including the creation of three million well-paid jobs and an hourly minimum wage of $15 (up from $7.25 currently).

He also reiterated his intention to implement a “fair tax” to make big companies and the wealthy to pay a “fair share”. The project is one of the financial markets’ least respected points, accepting instead the sharp tax cuts implemented in place by Donald Trump following his 2016 victory. Trump reduced corporate taxes from 35 percent to 21 percent in particular.

With more than 245,000 deaths since the outbreak of the virus in the territory and more than 11.2 million confirmed cases, the United States is the nation most affected by the Covid-19 pandemic. The number of new daily cases has increased from less than 50,000 to more than 150,000 since the end of September, and the number of hospitalizations has increased, leading to tensions in about 20 states, especially in the Midwest.

Growing numbers of US states, including New York, Oregon, California, Washington, Michigan, New Jersey and New Mexico, have announced new travel restrictions because of the Covid-19 resurgence.

Since Monday, Chicago, the third-largest city in the country, has adopted lockdown measures. Last Friday after remaining the most affected by the first wave of coronavirus, bars and restaurants in New York State are planned to close at 10 p.m.