During the pandemic caused by Covid-19, there were a number of stimulus programs administered to help out the economy. As per the latest United States Treasury report, the programs helped in creating the “most equitable recovery” during the past couple of decades. The report states that this stands particularly true in regards to how they helped the minority community’s financial well-being.
The Treasury Report Paints The Positives
The Treasury Report was made available to the public on October 23rd. It comprised of new research conducted by the Department of Treasury along with fresh Federal Reserve Board data. One of the findings stated that the Biden presidency’s programs helped avoid the worst outcomes possible for Hispanic and Black families. It further discovered, after judging multiple economic indicators, that Hispanic and Black families have retained their strength compared to recent recoveries in history.
As per the Treasury report, the American Rescue Plan of 2021 initiated by President Biden managed to effectively deliver aid and resources to communities who have been historically undeserved. As such, it said that it was a big help in recovering the economy quicker than during earlier downturns. Be that as it may, it will have to be noted that the Treasure Report arrives as Biden faces the elections and would like another term in power.
Regardless, it shows ample data that supports the Treasury Report’s claims about the nation experiencing a recovery that is historically equitable. Biden’s Rescue Plan had seen the federal government provide $500Bn in the form of stimulus checks. Individuals who were eligible received a maximum of $1400 per individual. The administration under Donald Trump had been in charge of the first two stimulus rounds. Biden’s final round was the third one and was also the highest amount of all the others.