What Biden’s stimulus package could mean for New York City

What Biden's stimulus package could mean for New York City

NEW YORK – Less than a week before taking over the leadership of the country, President-elect Joe Biden presented a bold idea: a $ 1.9 trillion stimulus package, pumping into the US economy and hundreds of households billions of dollars.

The proposal, which will require congressional approval, will expand unemployment insurance and provide additional payments of $ 1,400 to many households.

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Biden on Thursday proposed a $ 1.9 trillion recovery plan that could infuse the city government with billions of dollars. The news came as the mayor unveiled his own budget proposal showing the city was in billion dollars in the hole It’s unclear how much money the city could get from the recovery proposal, which requires congressional approval

On top of that, it could have a big impact on New York’s budget. Senator Charles Schumer, hours before the president-elect’s announcement, said he hopes Congress will take action before the middle of …

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