US Congress passed the economic stimulus package of $ 900 billion at the last minute


US Congress unanimously approved economic stimulus package of 900 billion USD

The US Congress has just reached a consensus on an economic stimulus package of $ 900 billion to join the health system and boost the economy in the face of the Covid-19 epidemic.

American lawmakers are expected to pass the bill on aid and funding on December 21. Photo: AFP

The US Congressional leader announced that a consensus was reached on the economic stimulus package to provide new federal aid to households, small businesses and health service providers; At the same time, the government will budget for the operation of September 30 after hard efforts.

However, leaders of the US Congress have not yet announced the full text of the bill on the overall stimulus package of more than $ 2 trillion said above. American lawmakers are expected to pass this bill on December 21.

“We have achieved a breakthrough on the bipartisan issue America needs,” said Senate Majority Leader Mitch McConnell.

Meanwhile, US House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer both assessed that the stimulus package just passed is “a stimulus package that brings very urgent grants to save many lives. and the livelihoods of Americans in the context of the contagious Covid-19 “. However, both leaders said that the stimulus was not enough and more aid needs to be boosted after President-elect Joe Biden took office on January 20, 2021.

To avoid the government shutdown from 12:01 on 21/12 [giờ miền Đông (ET) – Bắc Mỹ]The US Congress approved a one-day spending package in an effort to delay the close to 12:01 on December 22 (ET time). Specifically, the US House of Representatives approved the one-day spending package on the evening of December 20, while the US Senate approved this package before midnight.

The bill on the overall stimulus package of more than $ 2 trillion is one of the biggest bailout bills in American history to cope with the unprecedented crisis in the past 100 years. The bill was agreed upon after months of deadlock negotiations on Capitol Hill.

Democrats want to quickly pass the trillion-dollar Covid-19 support package just two months after the US Congress passed the $ 2 trillion in Economic Security, Aid and Aid Act. in March 2020. Meanwhile, Republicans at first overlooked Democrats’ proposals for additional aid, but later also changed their mind to limit the level of aid the Democrats wanted.

The new stimulus may not be enough for millions of Americans who were trying to raise money to cover food and rent costs during the Covid-19 era; At the same time, it is difficult to reverse the shutdown of a series of small businesses across the US and the widespread poverty situation in the past several months when the US Congress has not reached an agreement.

“The Americans can celebrate the stimulus bill this time, but of course the agreement we just reached is not perfect,” Mr. Schumer commented.

The recently approved $ 900 billion stimulus package will pay $ 600 directly for most adults in the US and $ 600 for children, Ms. Pelosi and Mr. Schumer said in the latest statement.

Democrats said the stimulus package will spend $ 284 billion in capital support for small businesses and other grants to small-scale and minority-owned credit institutions. In addition, about US $ 20 million will be directed to small businesses.

In the framework of this stimulus package, the US added an additional $ 300 million to the federal unemployment assistance program and other temporary programs to extend unemployment insurance eligibility. It is not clear how long these programs will last.

The stimulus package will also provide grants to hospitals, especially those that are struggling with the influx of patients admitted to hospital because of the increasing Covid-19. In addition, the US will allocate $ 82 billion in support to schools and colleges.

Design by NewsLax