Trump signs package to fund Government and COVID-19 relief

The US President Donald Trump recently signed the 900 billion USD relief package that will help in Government funding and COVID-19 relief measures.

About the package

It is a part of the 2.3 trillion USD spending package. It also includes provisions that will allow the sanction of 1.4 trillion USD that will be used to fund Government agencies. Without the bill, the government funding was to run out on December 28, 2020. It also included end-of-session priorities such as money for cash starved transit system and increase in food stamp benefits.

The relief package also provides 600 USD of direct stimulus checks to millions of Americans. The US Congress is to vote to increase the stimulus from 600 USD to 2,000 USD. The package is the second largest relief package after the 2 trillion USD CARES Act approved in March 2020.

What is in the 900 billion USD package?

  • The package will provide 300 USD per week to the unemployed.
  • It provides rental assistance to tenants with arrears in their rent. Around 25 billion USD of assistance has been allocated as rental benefits.
  • 10 billion USD has been allocated for Child-care providers.
  • The package includes 250 million USD allocated for the Head Start Programme.
  • The small businesses are to receive 325 billion USD of aid.
  • The package also includes schools and colleges.
  • Apart from these, the package also includes testing and tracing of COVID-19 and COVID-19 research.
  • The airline employees are to get their job back.
  • The package will also support bankers, farmers, rail and transit sector, US postal services.

Background

More than 14 million Americans faced lapse in unemployment benefit payments. With the bill being signed by the President, the unemployment benefits are to be restored. Earlier, the United States passed the Stop Gap Funding bill to extend the federal funds to avoid midnight government shutdown. Stopgap Funding Bill is used by the US Government to make sure that the Government does not run out of funds.

Month: 

Category: 

Topics: 

Latest E-Books

Comments