US President Joe Biden (Photo: VNA)

“Now, the bill moves to the United States Senate, where I hope it will receive quick action. We have no time to waste,” Biden said during a briefing on Saturday morning.

The Biden administration's stimulus package doubled the one passed by the Congress last December, following months of intense negotiations between Democrats and Republicans. It includes a subsidy of 1,400 USD/American, an extension of unemployment benefits, a fund for vaccination and testing of COVID-19, a 129 billion USD support for schools, an increase in earned income tax credit, and a plan to increase the minimum wage to 15 USD/hour by 2025. These measures are expected to significantly help the US economy recover.