Biden signs new stimulus package amid pandemic

US President Joe Biden has signed the $1.9 trillion coronavirus relief package, Report informs, referring to CNBC.

The plan will send direct payments of up to $1,400 to most Americans.

The bill will also extend a $300 per week unemployment insurance boost until Sept. 6 and expand the child tax credit for a year. It will also put nearly $20 billion into COVID vaccinations, $25 billion into rental and utility assistance, and $350 billion into state, local and tribal relief.

"This historic legislation is about rebuilding the backbone of this country," Biden said before signing the legislation. "And giving people in this nation, working people, middle-class folks, the people who built this country, a fighting chance."