Coronavirus has increased its effectiveness in the US, putting the country to the top of the list of Covid-19 cases. The pandemic has also created the risk of recession for developed and developing economies worldwide. Officials, who want to minimize the impact of the pandemic on the economy, supported the economy with financial aid packages and the central banks expanded their bond purchases and lowered the interest rates. In Trump period, the United States, which is the world's leading economy, provided approximately $ 3 trillion financial aid.

Joe Biden, who won the presidential election in November, had previously promised voters a package of financial aid as part of fighting the pandemic, and on January 20, 2021, Joe Biden took the presidency from Trump and once again addressed the promise he had made before taking office, stating that the economy would be supported by a $ 1.9 trillion stimulus package.

Here are the details of the $ 1.9 trillion stimulus package announced by US President Joe Biden.

An additional 1,400 dollar will be paid to the eligible citizens and the minimum hourly wage will be raised to 15 USD. Additionally, the federal boost the jobless receive will be increased to $ 400 a week, from $ 300. In addition, $ 415 billion is expected to be allocated to the fight against coronavirus, and $ 160 billion will be allocated to the national vaccination campaign.  In addition, $ 440 billion was intended to be provided to small businesses and $ 350 billion was intended to be allocated to state and local governments.

US Treasury Secretary Janet Yellen stated that those who earn under $ 60K annually should have a direct payment check of $ 1,400 under the financial aid package. And US Senate Majority Leader Chuck Schumer said that those who earn $ 75K and below annually should receive that $ 1,400.

On the other hand, Democrats, who are waiting for steps from Republicans to pass the $ 1.9 trillion financial aid package, met with some of the opponents and Republicans presented them a package worth $ 618B.

This package did not include the same supports for schools and states, and direct payment checks, and it also notes that $ 1,000 will be sufficient for families earning $ 40 - 80K annually. However, Democrats, who were committed to the $ 1.9 trillion stimulus package, made it public that they did not want the package that the Republican Senators recommended.

On the other hand, Chuck Schummer, the Senate Majority Leader stated in his letter to other senators that President Joe Biden's 1.9 trillion dollar coronavirus financial aid package will be passed and March 14 will be the deadline for the federal unemployment benefits.