US Senate passes $2 trillion coronavirus relief bill

White House, Senate reach historic $2T coronavirus relief deal

White House, Senate reach historic $2T coronavirus relief deal

Administration officials said Trump would definitely sign it into law if it passed both the Republican-led Senate and Democratic-majority House. "Graham and the others, they voted for a trillion dollars in tax breaks for the 1% and large corporations and now they're really anxious that a low-income worker might receive extended unemployment plus $600 a week", Sanders said.

The motion failed on a 48-48 vote. The revamped bill would provide one-time direct payments of $1,200 to all adults who make up to $75,000 a year, $2,400 per married couple, and $3,000 for family of four, according to AP. An extra $500 would be included for each dependent child. "Big help. Quick help", he said.

"That is a drop in the bucket", Cuomo said at a news conference. Pelosi said the House would give its members at least 24 hours' notice before voting on the relief bill. And Representative Katherine Clark of Melrose said lawmakers were already thinking about putting together another stimulus package after this one.

Senate Majority Leader Mitch McConnell said the Senate will vote and pass the legislation later Wednesday.

Senate Minority Leader Chuck Schumer, who was negotiating the deal for the Democrats, dubbed this provision "unemployment compensation on steroids".

The Senate Democrats also added a provision that bans businesses owned by the President, Vice President, members of Congress and the heads of the executive branch from receiving loans or investments through that fund.

Much of the funding in the massive bill was aimed at tightening the nation's safety net by providing relief to businesses that have been forced to make huge job cuts in recent weeks, as well as cash assistance and enhanced unemployment benefits for Americans facing financial calamity.

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The bill includes $500 billion for large corporations as the US grapples with a major economic freefall putting it on the verge of a full-blown recession as well as a $367 billion loan program for small businesses and $150 billion for assistance to state and local governments. Mnuchin said every federally insured bank would be authorized to make the loans, and that "by the end of next week" small businesses could apply and be approved on the same day.

Even besides that, the package is far from flawless: Upper-middle-class workers who are laid off won't get that $1,200 check, while lower-income workers who've kept their jobs will. Payments may not go out until May, too late for those who need them now.

Business owners in MA said that money couldn't come soon enough.

"You're literally incentivizing taking people out of the workforce at a time when weneed critical infrastructure supplied with workers" Graham said. "What's missing here is the urgency to get dollars into the hands of business owners and their employees now", she said.

Under the terms of the agreement, there is $250 billion to expand unemployment insurance.

"The extended UI program in this agreement increases the maximum unemployment benefit by $600 per week and ensures that laid-off workers, on average, will receive their full pay for four months". Graham said. "The Kennedy center may be an fantastic place to go, I'm sure it is".

It's likely House leaders will try to pass the bill by unanimous consent.

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