(Bloomberg) — 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.
He’s vowed to extend enhanced unemployment benefits, which could provide an immediate boost to demand from those most likely to spend. He also wants to invest in infrastructure, green energy and childcare, which he argues will increase hiring and help economic growth in the long term, too.
But Biden’s agenda risks running into immediate skepticism from the new Congress, where control may hinge on runoff…
