US President Joe Biden signed a $1.9tn stimulus package into law on Thursday afternoon, enacting his top legislative goal for his first months in office to deliver a fiscal jolt to the American economy.
According to US media outlets, Biden signed the legislation at just after 2pm on Thursday in the Oval Office, a day earlier than previously announced. Biden’s signature, just a day after the House of Representatives voted to pass the final version of the legislation in Congress, allows the US administration to rapidly implement the bill over the coming weeks.
The bill includes $1,400 payments, an extension of jobless benefits, and a child tax credit that is expected to lift millions out of poverty. The stimulus payments are set to begin this month.
It also allocates $350bn to state and local governments, some $130bn to school reopening, $49bn for expanded Covid-19 testing and research, as well as $14bn for vaccine distribution.
Biden said the relief package will rebuild "the backbone of this country".
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