Biden plans stimulus relief worth trillions: 5 things to know

President-elect Joe Biden is working on a stimulus relief proposal worth trillions of dollars, according to The Washington Post.

"The price tag will be high," Mr. Biden said of his planned package Jan. 8 at a news conference in Delaware. "The overwhelming consensus among leading economists left, right and center is that in order to keep the economy from collapsing this year, getting much, much worse, we should be investing significant amounts of money right now."

Here are five things to know about his proposal:

1. Timing of the relief plan. Mr. Biden plans to lay out the proposal in greater detail Jan. 14, before taking office Jan. 20.

2. Stimulus checks for Americans. Mr. Biden said the relief package would boost stimulus payments to Americans to $2,000.

3. Local aid. Mr. Biden said that the proposal will send billions of dollars in aid to city and state governments, something that was left out of the economic relief bill signed Dec. 27 by President Donald Trump. 

4. Vaccine distribution. The package will include billions of dollars to improve vaccine distribution and administration. 

5. Other aid. While he offered few details, Mr. Biden said he also plans to include rent forbearance, assistance for small businesses and millions of dollars for schools. 

Read more here. 

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