Trump Signs Coronavirus Economic Aid Bill – Measures Worth USD 2.2 Trillion
The U.S. House of Representatives on Friday approved a USD 2.2 trillion aid package - the largest in history - to help cope with the economic downturn inflicted by the intensifying coronavirus pandemic, and President Donald Trump quickly signed it into law.
The massive bill passed the Senate and House of Representatives nearly unanimously, Reuters reports.
Trump said that it would deliver urgently needed relief to the nation’s families, workers and businesses.
The USD 2.2 trillion measure includes USD 500 billion to help hard-hit industries and USD 290 billion for payments of up to USD 3,000 to millions of families.
It will also provide USD 350 billion for small-business loans, USD 250 billion for expanded unemployment aid and at least USD 100 billion for hospitals and related health systems.
The rescue package is the largest fiscal relief measure ever passed by Congress, Reuters adds.