Biden Signs $1.9 Trillion Stimulus Bill... $1400 Payments This Week (Comprehensive Report 2)

[Asia Economy New York=Correspondent Baek Jong-min] U.S. President Joe Biden signed the $1.9 trillion stimulus bill a day earlier than scheduled.

President Biden signed the stimulus bill on the afternoon of the 11th (local time) in his office. White House Chief of Staff Ron Klain said the president wanted to act quickly, so the signing schedule was moved up.

The White House announced that with the signing on this day, the bill will take effect, and $1,400 in cash will be deposited to each eligible citizen by this weekend.

Before signing, President Biden stated, "Through this historic legislation, we can rebuild the foundation of our country."

President Biden is also scheduled to deliver a national address at 8 p.m. on the same day, marking one year since the declaration of the COVID-19 pandemic, where he will speak about rebuilding the U.S. economy.

The New York Times reported that the speech is expected to actively promote the stimulus bill. President Biden plans to actively publicize the stimulus measures next week as well, including visiting Pennsylvania.

The Times noted that the Biden administration is recalling the experience during the Barack Obama administration when the scale of stimulus policies responding to the financial crisis was limited, which delayed economic recovery.

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