After Joe Biden took office as President of the United States, investor hopes began to revive. This was spurred by Biden's commitment to implement immediate plans to rescue the American economy from the COVID-19 crisis. He announced his adoption of two main spending initiatives that he would seek to pass through Congress in the first few months of his presidency.
Days before Biden took office, he revealed his plan to stimulate the economy with a value of $1.9 trillion, aimed at supporting families and businesses affected by the coronavirus pandemic. Biden's plan includes increasing direct payments through stimulus checks of up to $2,000, following a new increase of $1,400 in addition to the $600 approved in the second stimulus plan in December. The plan also allocates $50 billion for COVID-19 testing to control the rapid spread of the virus.
