Agencies
Washington, Mar 26: Facing one of the worst economic downturns in American history, one that is unsparing in its trauma, the US Senate late Wednesday unanimously approved a $2 trillion emergency relief bill that attempts to arrest the financial havoc caused by the coronavirus pandemic.
Lawmakers acted with unusual speed and cooperation to produce the largest economic rescue package in history.
The sprawling legislation, which passed 96 to 0, would send checks to more than 150 million American households, set up enormous loan programs for businesses large and small, pump billions of dollars into unemployment insurance programs, greatly boost spending on hospitals, and much more.
The Senate’s most liberal and conservative senators joined together to support the mammoth spending bill, illustrating how concerned policy makers have become about the health care strains and financial pain the country now faces.The legislation’s goal is to flood the economy with money at a time of nearly financial chaos, with entire states on lockdown, many businesses closed, and the numbers of infections and deaths from the coronavirus quickly on the rise.
The Senate vote sends the bill to the House, where Majority Leader Steny Hoyer (D-Md.) announced a vote to approve it Friday morning. President Trump said he intends to sign it immediately.
(Except for the headline, this story has not been edited by The Kashmir Monitor staff and is published from a syndicated feed.)
