Biden Warns "Delaying Signature on Additional Stimulus Could Lead to Destructive Consequences"

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] U.S. President-elect Joe Biden warned on the 26th (local time) that if President Donald Trump continues to delay signing the additional stimulus package passed by Congress, it will lead to destructive consequences, urging a prompt signing.

According to major foreign media on the day, President-elect Biden issued a statement emphasizing the necessity of signing the stimulus package to respond to the novel coronavirus disease (COVID-19).

Biden criticized, "Although it is the day after Christmas, millions of families do not know if they can make ends meet because President Trump has not signed the stimulus bill overwhelmingly approved by Congress with bipartisan support."

He added, "This abdication of responsibility has destructive consequences," stating that about 10 million Americans will lose unemployment benefits, government aid will expire in a few days putting essential military services and salaries at risk, and millions will face the risk of forced eviction.

He pointed out, "Due to the delay in signing, many small businesses will not receive the necessary support and will not survive, and cash payments that the public should receive quickly will also be delayed." He also mentioned the need for funds to distribute and administer vaccines.

Biden emphasized, "This bill is critical" and "It must be signed into law now." He noted, "This bill is the first step and down payment for more measures to be taken in the new year to revive the economy and suppress the COVID-19 pandemic."

On the 21st, Congress processed a stimulus package worth about $892 billion (approximately 988.4 trillion won) for COVID-19 response and a $1.4 trillion (approximately 1,551 trillion won) federal government budget for the 2021 fiscal year.

However, President Trump demanded amendments to the bill, saying that many items unrelated to COVID-19 were included in the stimulus package, calling for reducing unnecessary spending and increasing cash payments, and has not yet signed the bill.

This content was produced with the assistance of AI translation services.