Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

White House says $1.9 trillion COVID-19 relief proposal based on specific needs

Published 01/20/2021, 07:39 PM
Updated 01/20/2021, 08:15 PM
© Reuters. White House Press Secretary Jen Psaki speaks in the James S Brady Press Briefing Room at the White House, after the inauguration of Joe Biden as the 46th President of the United States

© Reuters. White House Press Secretary Jen Psaki speaks in the James S Brady Press Briefing Room at the White House, after the inauguration of Joe Biden as the 46th President of the United States

WASHINGTON (Reuters) - President Joe Biden's proposal for a $1.9 trillion COVID-19 relief package was based on an assessment of specific needs, White House Press Secretary Jen Psaki said on Wednesday, when asked about Republican objections about the total cost.

"The package wasn't designed with the $1.9 trillion as a starting point. It was designed with the components that were necessary to give people the relief that they needed," she told reporters during her first briefing after Biden's inauguration.

Psaki said it was challenging to think about which components of the proposal could be eliminated since all were based on recommendations from economists and health professionals, but acknowledged that the final version of any legislation rarely looked exactly like the initial proposal.

Biden, a longtime U.S. lawmaker was no stranger to congressional negotiations, and would be closely involved in the process, Psaki said, adding: "It's a conversation, and he is no stranger to the process of deal-making."

She said the president's clear preference was to move ahead with a bipartisan bill, but the White House was "not going to take any tools off the table" for the House and Senate - which will both be controlled by the Democrats - to get it done.

She also cited an outpouring of support from U.S. business groups to Senator Bernie Sanders for the proposal.

Biden was committed to invoking the Defense Production Act to ensure the supplies and materials needed to achieve his goal of having 100 million people vaccinated in the first 100 days of his presidency.

Further details would be released on Thursday, Psaki said.

Latest comments

Must spend and spend.. Don't worry.. No more money... Just print and print.. Than blame it on China
wait for 6 months and we will be in a recession.. thanks dems
Wow you can read the future!! You must be a multi millionaire.
Totally agree Jim. Stock market has already crashed as predicted after Biden won.
dx. 8 go 1ooo 9xxxxdxdddddew3eee33eew234ddd31 qes es dSSPDS
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.