World

US Senate passes $2 trillion coronavirus rescue package

ANI | March 26, 2020 10:34 AM
The US Capitol building

Washington DC [USA], Mar 26 (ANI): The United States Senate has approved a USD 2 trillion emergency aid package -- the largest in the US history -- to rescue the country's economy reeling under impacts of the coronavirus pandemic.

The Senate passed the bill late Wednesday night by a vote of 96-0, sending it to the US House of Representatives, CNN reported.

The legislation will provide a massive infusion of financial aid into a struggling economy hard hit by job losses. The proposal includes: Setting aside USD 250 billion for direct payments to individuals and families, USD 350 billion in small business loans, USD 250 billion in unemployment insurance benefits and USD 500 billion in loans for distressed companies.

Under the plan, individuals who earn USD 75,000 in adjusted gross income or less would get direct payments of USD1,200 each, with married couples earning up to USDS 150,000 receiving USD 2,400 -- and an additional USD 500 per each child.

The development comes after US Senate leaders and Trump Administration reached an agreement early Wednesday on the package early.

President Donald Trump has indicated he will sign the measure.

The United States has over 51,000 cases of COVID-19 with over 600 deaths, as per the World Heath Organisation. (ANI)

Have something to say? Post your comment
Must Read
Punjab villages show the way to combatting COVID-19 with self isolation
Punjab villages show the way to combatting COVID-19 with self isolation
Novel Coronavirus (COVID-19):  Ex-commandant donates Rs 5 lakh out of his pension account for Punjab Chief Minister relief fund
Novel Coronavirus (COVID-19): Ex-commandant donates Rs 5 lakh out of his pension account for Punjab Chief Minister relief fund
DC and CP for transforming ‘self home quarantine’, ‘social distancing’ and ‘Theekari Pehras’ into a mass movement
DC and CP for transforming ‘self home quarantine’, ‘social distancing’ and ‘Theekari Pehras’ into a mass movement
Punjab sets up transport control rooms to ensure smooth movement of essentials
Punjab sets up transport control rooms to ensure smooth movement of essentials
One more Corona Positive patient dies in Punjab
One more Corona Positive patient dies in Punjab
Administration pulls up socks for smooth and hassle free procurement of wheat from April 15
Administration pulls up socks for smooth and hassle free procurement of wheat from April 15
Lockdown : Radha Soami Satsang Beas prepares 'langar' for needy in Punjab, other states
Lockdown : Radha Soami Satsang Beas prepares 'langar' for needy in Punjab, other states
Technical Education Board to give Rs 5 crore in CM's relief fund: Channi
Technical Education Board to give Rs 5 crore in CM's relief fund: Channi
MP, MLAs, DC, CP and SSP join heads for further expediting distribution of relief material to the needy and underprivileged sections of society
MP, MLAs, DC, CP and SSP join heads for further expediting distribution of relief material to the needy and underprivileged sections of society
The Department of Consumer Affairs will issue daily list of essential commodities during lockdown
The Department of Consumer Affairs will issue daily list of essential commodities during lockdown
DC and SSP leads flag march in Nakodar Sub-Division
DC and SSP leads flag march in Nakodar Sub-Division
Capt Amarinder directs DGP to finalise security plan for smooth procurement
Capt Amarinder directs DGP to finalise security plan for smooth procurement