US Congress reaches deal on aid package worth $900 billion
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United States Congress reached an agreement to roll out a relief package worth $900 billion, in what is being seen as the first set of reliefs in months for people in an economy which has been hammered by COVID-19
United States Congress reached an agreement to roll out a relief package worth $900 billion, in what is being seen as the first set of reliefs in months for people in an economy which has been hammered by COVID-19, which has killed the most number of people in the US. Even then, it’s unclear when Congress would vote to cement the deal.
"At long last, we have the bipartisan breakthrough the country has needed," Republican Senate Majority Leader Mitch McConnell said.
Earlier, a $2.3 trillion aid bill was passed in March, which was the largest economic stimulus in the country’s history.
As of now, COVID-19 is infecting over 214,000 people everyday, with 317,000 Americans dead so far.
Another Senate leader - Chuck Schumer claimed that the package should be approved in both the chambers of the Congress.
"Finally we have some good news to deliver to the American people," he said on the Senate floor.
The package would provide $600 worth of boost to individuals. In addition, it would provide $300 unemployment payments, with additional aid worth billions of dollars.
The package also provides $25 billion in rental assistance, Reuters reported.
Lawmakers were able to resolve disputes over the Federal Reserve’s pandemic lending authority, funding of education and lending for small businesses.
"I think it's for the most part wrapped up," Republican Senator John Thune said to reporters.
The Congress is attempting to imbibe the aid package in a $1.4 trillion spending bill, which will fund government aid programmes upto September 2021.
However, analysts believe that it may not be done soon enough before the expiration of government funding, implying a temporary extension must be passed to keep the government operable.
Nancy Pelosi, the Speaker of House of Representatives said on Sunday that she wishes to review the package before calling a vote.