The U.S. Senate passed a $2 trillion economic stimulus bill in the early hours of Thursday to bail out the battered U.S. economic, and help fight pneumonia across the country.
The bill was adopted unanimously by 96 votes to none in the Senate. The bill will be sent to the House of Representatives for a vote this Friday (27). And it is the largest economic stimulus in American history.
Among the main elements of the bill are $1,200 per adult U.S. citizen and help for small-business employees.
Details of the 900-page bill have not yet been fully published, but $2 trillion in investment is already half the government annual budget of the United States.
Equivalent to "wartime investment level"
Like in a disaster movie, the road was almost empty after Los Angeles was sealed
The republican and democratic parties have been debating the unemployment benefits section of the bill before senator vote, including direct subsidies of $1200 to most american adults and help small businesses pay for employee salary.
The Senate`s final bill includes tax rebates, loans, hospital spending and rescue programs.
Individuals earning less than $75,000 a year will receive a direct subsidy of $1200 per person. Married couples who earn no more than $150,000 a year will receive $2400 and an additional $500 per child.
New York state is the worst place in America
People in Miami began wearing masks
According to the guardian, the bill will set up a $500 billion loan scheme for american businesses, cities and states, a $367 billion fund for small businesses, a $130 billion grant to hospitals and expanded coverage of unemployment insurance.
Senate republican leader mcconnell (Mitch McConnell) described the bill as "wartime investment" in america.
House speaker democrat pelosi (Nancy Pelosi) wants the bill to be passed by voice in the house. Because it allows some people to have coronavirus or congressman who are self-isolated to vote by voice.
"While this is not the bill I want, rapid investment is crucial ," said Elizabeth Warren, senator of the Massachusetts Democratic Party (Elizabeth Warren), following the parliament vote. "This is not enough ," she added. We need to do more quickly. "
Analysis: Is the biggest stimulus ever enough to turn things around
The British Broadcasting Corporation economic Affairs journalist Andy Veriti (Andy Verity)
A street performer wearing a mask New York Times Square
America`s Senate has approved a $2 trillion bailout bill, the largest economic bail-out in recent history.
As with britain`s economic emergency, the bail-out bill promises to lend more than $300 billion to small businesses to cover the cost of the latter in 10 weeks; it also provides $500 billion in aid to airlines and others.
government will also issue $1200 checks to most adults and $500 checks to each child in the family.
But it is worrying that, despite the magnitude and magnitude of the bail-out, it is not enough to mitigate the economic impact of the new crown virus in the united states, which has led to the shutdown of various industries, and the shutdown of pneumonia has become a global phenomenon. Also, some economics analysts say U.S. companies may need five times more cash to prevent large-scale bankruptcy and unemployment.
A young man wearing a mask sang in the empty New York Times Square
The historic bill, before the senate passed, saw u.s. stocks rise 2,2112 points tuesday, the biggest daily gain in 1933. The next day, Dow Jones opened up another 700 points.
Trump shouted to the Senate in Twitter on Tuesday that the bail-out would have to be passed that day ," because the longer it takes, the harder it is for economic to revive. "
As of now, the number of coronavirus death in the United States has exceeded 1000, and the number of confirmed consultations is close to 70,000.
