Olivia Álvarez (Monex Europe) | Joe Biden’s proposed $1,9 Tr stimulus bill will run its race in Senate next week, as House Democrats passed the legislation on Friday. The package includes $1400 direct payments to most Americans, a $400 weekly jobless benefit and an extension of unemployment insurance programs to a larger share of eligible candidates. The bill also includes $20bn for Covid-19 vaccinations, $50bn for testing and $350bn into state and local aids. The plan also aims to hike the federal minimum wage to $15/hour by 2025, although this particular amendment hangs on a thin balance.
us minimum wage
WASHINGTON | By Alan Smith via The Next New Deal | Anchor institutions like universities and hospitals have the power to establish a living wage and a stronger economy. President Obama plans to sign an executive order requiring workers under federal contractors to be paid at least $10.10 per hour. This move was be a key point in Tuesday’s State of the Union, and folks across the United States will benefit in very real ways. [NOTE: Temporal references have been edited since the piece was written on Monday.]