March 27, 2020
Photo: iStock
The largest stimulus bill in U.S. history is almost reality, thanks to a deal struck this morning between the White House and U.S. Senate okaying $2 trillion to keep alive and revive the nation’s faltering economy under the weight of COVID-19 restrictions, according to CNN.
“At last, we have a deal,” said Senate Majority Leader Mitch McConnell, wrapping up days of round-the-clock negotiations.
The Senate is set to reconvene today at noon, but a time for the official vote hasn’t been publicized. Likewise, complete details are still to be released, but the measure is said to include $250 billion for direct payments to individuals and families, $350 billion for small business loans, $250 billion in unemployment insurance and $500 billion in distressed company loans.
Senate Minority Leader Chuck Schumer’s office said it also contains a provision blocking President Donald Trump, his family, top government officials and members of Congress, from obtaining Treasury program stimulus loans or investments
“This is not a moment of celebration but of necessity,” Schumer told the Senate early this morning.
Topics: Coronavirus / COVID-19, Retail – General