Bloomberg Tax
Jan. 15, 2021, 2:00 PM

Biden Urges Swift Action on Giant Aid Plan With Republicans Wary

Erik Wasson
Erik Wasson
Bloomberg News

President-elect Joe Biden’s $1.9 trillion economic relief proposal serves as the opening salvo in a legislative battle that could be prolonged by the go-big price tag and the inclusion of initiatives opposed by many Republicans.

Biden’s hand was bolstered by Friday’s release of U.S. retail sales data for December, which showed a third straight monthly decline as the pandemic sapped activity. The results indicated that the biggest part of the U.S. economy -- consumer spending -- took a step back last quarter.

“It’s not hard to see that we’re in a once-in-several-generations economic crisis,” Biden said Thursday night in ...

Learn more about Bloomberg Tax or Log In to keep reading:

Learn About Bloomberg Tax

From research to software to news, find what you need to stay ahead.

Already a subscriber?

Log in to keep reading or access research tools.