MNI BRIEF: Biden Would Seek Sizeable Stimulus Immediately-Aide

U.S. Presidential contender Joe Biden if elected would immediately consult with Capitol Hill to achieve a "sizeable" stimulus immediately after inauguration on Jan. 20, Biden top policy advisor Stef Feldman said Friday.

A Biden administration would seek two separate stimulus packages with one aimed at "short-term relief" that could amount to USD3 trillion focused on small businesses and minorities, Feldman said. A second package aimed at "longer-term relief" would come later on and focus on infrastructure and green proposals, Feldman said, not ruling out that it could cost around USD1 trillion.

Biden also would not wait to work with Capitol Hill to raise taxes on those making over USD400,000 per year and seek to raise corporate taxes to 28% from the current 21% rate in order to completely pay for the "longer-term relief" proposal in full without deficit spending, Feldman said during an Axios event.