The US Senate has passed a coronavirus disaster aid bill worth $2 trillion. This is the largest economic stimulus in the history of the United States.
The international news agency says that the vote was delayed by a last-minute row between Republican and Democratic senators over unemployed benefits.
Direct payments of $1,200 will be made to most American adults and it will also aid to help small businesses pay their employees.
The deal reached by Republicans and Democratic leaders in the Senator comprises of tax rebates, loans, money for hospitals and rescue packages.
International news agency states that Though the nearly 900-page bill’s price tag amounts to roughly half the size of the US government’s annual budget, little has emerged of its finer details.
Individuals who earn $75,000 or less would get direct payments of $1,200 each. Married couples with a household income of up to $150,000 would receive $2,400 and an additional $500 per each child.
Note that 1,000 people have lost their lives due to coronavirus pandemic whereas around 70,000 people are infected.
Apart from that, more than 21,000 people have died due to Covid-19 worldwide.
South Europe has been declared as the new epicenter of the pandemic. Hundreds of deaths are reported every day from Italy and Spain.
President Donald Trump said on Wednesday that he would sign the fast-tracked bill as soon as he receives it.
However, the plan hit a speed bump as Republican senators Tim Scott, Rick Scott, Ben Sasse, and Lindsey Graham said its major expansion of unemployment benefits provided “a strong incentive for employees to be laid off instead of going to work”.
They said that they would not support the bill unless it was fixed to make sure the employees could not get a higher income while unemployed than in a job.
Senator Bernie Sanders said that he would not support the bill unless the Republicans dropped their objections.
He also presented tougher conditions on the legislation’s “corporate welfare”.
Mr. Connell called the package a “wartime level of investment” in the US.
Speaker Nancy Pelosi said that she hoped the bill could be passed by a voice note.