Economics
Biden Heads for Congress Clash Over How to Fix Virus Economy
- Spending, tax plans will face uphill battle in Senate
- Biden aims to reset trade relations with EU, other key allies
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President-elect Joe Biden’s big-spending blueprint for a U.S. economy still battling the pandemic is set to meet pushback from Congress, where his party failed to win sweeping control.
Biden is poised to enter office in January after campaigning for trillions of dollars in additional fiscal stimulus to battle the economic fallout from Covid-19. There are still 10 million fewer jobs than in February and the economy is about 3.5% smaller than before the crisis.