Get short URL
Hotly-debated between the GOP and the Democrats, the $2-trillion economic relief package is designed to help the US economy to overcome the expected aftermath of the COVID-19 pandemic.
The US Senate voted to pass the historic $2-trillion economic stimulus bill late Wednesday evening.
The bill was passed in the Senate with a final vote of 96-0 with four Senators being absent and now it is being sent to the House of Representatives.
The House will try to pass the measure immediately afterward by unanimous consensus, meaning it will not have to formally convene so that the measure will be fast-tracked through both chambers of Congress tonight.
Prior to the vote, Senator McConnell said that the Senate would go into recess until 20 April. Earlier on Wednesday, Trump said he would sign the bill ‘immediately’ after he receives it.
The bill would give $1,200 to most American adults and $500 for most children, create a $500-billion lending program for businesses, cities and states, and provide for a $367-billion employee retention fund for small businesses. $130 billion would be given to hospitals and provide four months of unemployment insurance amid the COVID-19 pandemic.
There are more than 50,000 confirmed COVID-19 cases in the US amid more than 400,000 globally, according to the World Health Organization data.