Rich! The House of Representatives passed Biden's $1.9 trillion proposal, and a $3.2 billion subsidy plan is also coming...

New officials take the first step in their new posts. US President Biden has proposed a money distribution plan as soon as he took office. The latest news shows that Biden's $1.9 trillion relief bill has passed the House Budget Committee! The Senate will pass the bill before March 14!

In addition, the United States will provide $3.2 billion in Internet subsidies for low-income groups . The editor boldly predicts that this proposal will make these hot-selling products even hotter.

Crazy money distribution means that sellers have a lot of orders, and it also means that the exchange rate is not satisfactory. Although the unemployment rate in the United States has declined, the US economy is still not optimistic.

One step closer to distributing money! The House of Representatives passed Biden's $1.9 trillion relief bill

Recently, the UK-based Fasthosts released a list of the top 10 global e-commerce websites with the most visits, showing that Amazon’s US site is firmly at the top of the list! This also shows that whether the American people have money or not is closely related to the sellers’ income. Therefore, a large number of sellers on the US site have been worried since the beginning of the epidemic:

Is the epidemic situation in the United States better today ?

Will the epidemic situation in the United States get better tomorrow ?

Do the American people have money to buy things?

Speaking of money, there’s new news about Biden’s money distribution plan that sellers have been looking forward to.

Recently, many sellers have reported that their order volume is sluggish. One seller said that every morning when he opens his computer, he can only see a few orders here and there, which is really miserable ...

When the order volume is sluggish, what sellers want to hear most is that Americans will have money again. According to foreign media reports, on February 22, local time in the United States , the $1.9 trillion coronavirus relief plan was passed by the House Budget Committee.

MassLive.com reported that the committee voted 19 to 16 on Monday to move forward with the plan. House Speaker Nancy Pelosi has vowed to hold a final vote on Friday, and Senate Majority Leader Chuck Schumer has pledged to pass the bill on March 14, after the current round of unemployment aid and other coronavirus aid expires .

This is one step closer to the US sending money, and one step closer to sellers getting a big order. Details of this money sending plan are as follows ↓

1. $400 extra unemployment benefit per week until 8/29 ;

2. Extend unemployment benefits for self-employed persons to August 29 ;

3. Provide $1,400 in relief funds to individuals with an annual income of $75,000 or $150,000 or less for couples ;

4. The maximum child benefit is $3,600 per person per year ;

5. Gradually increase the minimum hourly wage to $15 by 2025 , $20 billion will be used to promote COVID-19 vaccination , $170 billion will be used to reopen schools , and $350 billion will be used to support state and local governments.

Combined with the $600 stimulus Trump approved in December , the package would mean $2,000 in direct payments to most Americans .

Compared to the $600 in the first two rounds , in the third round, parents can get $1,400 for each dependent ; and, while the first two rounds were limited to children under 17, the third round of checks will include eligible adult dependents for the first time, meaning that parents raising college-age students may get more money. That is, a family of four can get $5,600 in addition to the new child tax credit .

Foreign media said that if the bill can be passed smoothly, most eligible Americans will receive the relief funds in late March. If everything goes well, sellers' orders will usher in a big explosion in late March!

The exchange rate fluctuates greatly. Sellers: It’s a waste of time to make a lot of orders

Although the sellers’ order volume will increase after the United States sends money, sellers will also face the problem of exchange rate fluctuations as orders surge.

Seller A: Oh, the recent exchange rate! I am so lonely because of the sudden increase in orders.

Seller B: I have to pay a deposit soon . The first thing I do every day when I open my eyes is to check the exchange rate , and then I begin a new state of autism .

Seller C: Can the exchange rate go up a little bit so that I can convert foreign currency into RMB and ease these tight times?

What is the latest exchange rate situation? On February 24, the onshore RMB exchange rate against the US dollar rose by more than 70 points at the opening, breaking through the 6.46 mark; at the same time, the offshore RMB exchange rate against the US dollar rose by more than 30 points, approaching the 6.45 mark.

Are you satisfied with this number? An export seller said frankly that he only hopes that the US economy will return to normal as soon as possible and the exchange rate will return to around 6.8.

Although sellers have such good wishes, the reality is still very cruel. In addition to Biden’s 1.9 trillion stimulus plan, the United States will also provide 3.2 billion US dollars in Internet subsidies for low-income groups ...

The United States provides $3.2 billion in Internet subsidies for low-income groups

According to foreign media reports, the United States will also provide $3.2 billion in Internet subsidies for low-income groups . The Federal Communications Commission (FCC) said on Monday that it will finalize the rules for the project.

The plan provides low-income Americans with discounts on monthly internet service and the purchase of laptops or tablets. Internet access has become particularly important during the coronavirus pandemic, as millions of children are unable to attend school and can only take online classes at home.

The program provides low-income Americans with $50 per month in internet service , with a value of up to $75 in the Tribal Lands .

Acting FCC Chairwoman Jessica Rosenworcel said Monday she was circulating a report and final order establishing rules for the plan for a vote.

“From jobs to healthcare to education, this crisis has made it clear that without internet connectivity, too many families are unable to access modern life,” Rosenworcel said in a statement.

Under the program, families can also receive up to $100 in government rebates on laptops, tablets or desktops from participating vendors .

Congress said the program would last at least six months, but it could be longer depending on when the Department of Health and Human Services determines the public health emergency is over.

Below, sellers can learn about the latest economic situation in the United States.

U.S. e-commerce sales to reach nearly $800 billion in 2020

The U.S. is on track to recover from the coronavirus pandemic, the president of the Washington central bank told lawmakers on Tuesday.

The U.S. Department of Labor showed that the U.S. unemployment rate was 6.3% in January, down 0.4 percentage points from the previous month. The number of unemployed people in the United States dropped to 10.1 million in January, and the number of permanently unemployed people remained at a high level of 3.5 million.

Federal Reserve Chairman Jerome Powell acknowledged this statement , saying that with the introduction of vaccines and the accelerated pace of recovery, the US economy may grow by 6% this year , but he also said that the economic recovery is still unbalanced, far from complete, and the path forward is still uncertain. Although the labor market has made great progress since the spring, millions of Americans are still unemployed.

Former U.S. Treasury Secretary Larry Summers also warned that President Biden's $1.9 trillion stimulus plan will lead to "inflationary pressures like we have never seen in our generation . "

Although the epidemic has brought many problems, it has also made the online economy booming. It is understood that in 2020, US e-commerce grew by 32% to US$790 billion, up from US$598 billion a year ago. According to the Ministry of Commerce, e-commerce accounted for 14% of total retail sales, a significant increase from 11.3% in 2019 .

Digital Commerce 360 ​​estimates that online penetration in the U.S. reached 19.6% last year. That’s up from 15.8% in 2019 and 14.3% in 2018.

In any case, 2021 will continue to be a year of both crises and opportunities.

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