World

US Senate sets history: passes USD 2 trillion aid package

Washington: The United States Senate voted unanimously on Wednesday for it has approved a USD 2 trillion emergency aid package. The bill comes after the country’s economy is facing its tough time due to the worse impact 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 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.

The legislation would send direct payments of USD 1,200 to Americans earning up to USD 75,000- whuch would gradually phase out for higher earners and end for those with incomes more than USD 99,000- and an additional USD 500 per child, reported New York Times.

President Donald Trump is expected to soon sign the bill.

22 Shares

Scroll down for comments

Loading...

Post Your Comments

Back to top button
Close
Close