19 January
Lawrence Henry Summers, an economist and former US Treasury secretary, shared his views on the most important pieces of US President-elect Joe Biden’s $1.9t stimulus package being the vaccination programmes and support extended to state and local governments.
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Summers emphasised that the most significant component of the package is directed towards vaccinations efforts, with an allocation of $20bn towards the create of a national vaccine distribution plan, $50bn towards ramping up testing efforts, $350bn towards state local aid, $20bn towards transit systems, and $170bn towards helping schools re-open.
Importantly, he states that the plan reflects a keen desire to combine macroeconomic element with the structural fairness element.
