Biden eyeing two relief efforts if elected, adviser says
If Joe Biden gets elected, he will work to provide two relief packages — a short-term package before inauguration "that delivers relief to working families" and a long-term one to "build back" the economy, his campaign's policy director, Stef Feldman, said Friday at an Axios virtual event.
Why it matters: Biden advisers don’t know what the state of the economy will be, but they are preparing for the worst. They want to move quickly with short-term relief before attempting a broader recovery package that will take time — and political capital — to achieve, Axios politics reporter Hans Nichols says.
The big picture: With Congress deadlocked, investors are watching Biden's pronouncements closely as they wonder about the size and sequencing of the trillions of dollars in fresh spending that he's promised.
What she's saying: "Vice President Biden is going to get to work right away and not even waiting until Inauguration Day, but right away if he is elected to provide two things: The immediate fiscal relief our economy needs and our families need to put food on the table to pay their electricity bills, to keep roofs over their heads, as well as the bigger package to, as you said, build back better...," Feldman said.
- "The short-term relief needs to get out the door as quickly as possible."
- "That money will be directed and targeted under a Biden administration to middle-class and lower-class families, will be targeted to our smallest businesses instead of just the big corporations that have the best connections to big banks.