On December 27 (the morning of December 28 at Vietnam time), US President Donald Trump signed the release of the COVID-19 pandemic relief package worth $ 900 billion.
|US President Donald Trump at the White House. Photo: AP|
President Trump signed into law the COVID-19 pandemic bailout package worth more than $ 892 billion in parallel with an annual budget package just before, according to White House officials’ statements by US media. deadline on the night of December 27, thereby avoiding the risk of a US government shutdown.
On December 21, with 92 votes for and 6 against, the US Senate passed an economic bailout package worth more than 892 billion USD to motivate millions of Americans and businesses that were severely affected. Due to the COVID-19 pandemic, it also provides a budget of 1,400 billion USD for the activities of the federal government until September 2021.
Earlier on the same day, this bailout package was approved by the US House of Representatives with 359 votes for and 53 against. The bicameral parliament’s support for the bailout package paved the way for the document to be submitted to President Trump for signing into law. Thus, after months of tense negotiations, the Republicans and the Democrats have temporarily closed the conflict related to the new bailout package COVID-19.
The stimulus package is part of an overarching budget bill worth 2,300 billion USD to finance government agencies working through fiscal year 2021, as well as support for the economy. The economy has been hit hard by the COVID-19 pandemic.
According to the bill, each American with an income below 75,000 USD / year or couples with an income below 150,000 USD / year will be supported with 600 USD / person. In addition, each dependent under the age of 18 in the same household will receive USD 600. People earning $ 99,000 or more a year will not receive benefits.
The bill also extended unemployment insurance and federal unemployment insurance with a rate of 300 USD / person / week; providing more than $ 284 billion in loans to businesses that are having difficulty paying rent and labor; Spending 69 billion USD on the fund for distribution and testing of vaccines and 82 billion USD in funding for colleges and schools.
The bill does not include hundreds of billions of dollars in support for states and localities proposed by the Democrats as well as provisions promoting protection of businesses’ liability for epidemic related lawsuits. COVID-19 of the Republican Party. In addition, the US Senate also passed a budget bill to finance the government to operate until the end of fiscal 2021.