US-fed approved its second-largest stimulus package against pandemic relief:
US-fed: On Monday, the leaders of the house and the senate agreed on a $900 billion pandemic relief bill after US-fed approvals. However, the stimulus bill includes enhanced unemployment benefits and cash payments. Several changes against the proposals put nearly 2 weeks ago by the lawmakers.
However, it is a much-needed help to small businesses and Americans who lost their job during the pandemic crisis. The measure next goes to the Senate for further approval. Whereas the lawmakers are hoping to approve it later Monday evening.
However, the relief package will include in the government spending legislation under the 5,593-page bill. The relief fund includes direct payment of almost $600 per adult, jobless benefits of $300 per week, almost $284 billion against paycheck protection program loans, $25 billion for rental assistance, an extension of the expulsion moratorium, and almost $82 billion for schools and colleges.
“The relief package is finally approved, what the nation is waiting to hear for a very long time. Besides, more help is on the way,” said Mitch McConnell, Senate Majority Leader.
Kentucky Republican said we’re going to pass another relief package for citizens of America during this pandemic crisis.
On the other side, the relief package, which was negotiated on a bipartisan basis. However, it combines with a massive $1.40 trillion government spending bill to fund federal agencies for the new financial year.
While the Senate scheduled for a quick voting session if all 100 senators agree the bill will pass. But if any member objects the bill could drag out longer further. However, President Donald Trump will sign the pandemic relief package once it is passed and reaches his desk, said the White House on Monday.
What are the benefits and reliefs in the second stimulus package?
Here is the list of key changes in the second stimulus package, according to the press release sent by the members of Democratic and GOP leadership:
- Direct relief payment of almost $600 per adult and child against the crisis.
- Special relief fund for small businesses impacted during Covid-19. The package includes more than $284 billion against paycheck protection program loans. Besides, almost $15 billion for movie theatres, live venues, and cultural institutions across America.
- The relief package also includes enhanced unemployment benefits worth $300 per week.
- The US fed also allocates $20 billion to buy vaccines and $8 billion for vaccine distribution. The government’s aim is to provide the vaccine at no charge for anyone.
- $20 billion for coronavirus testing efforts.
- $25 billion for rental assistance and removal of a moratorium extension.
- The government also allocated almost $82 billion for educational institutes like schools and colleges. Special assistance provided for the institutes to reopen classrooms safely. On the other side, the government allocates almost $10 billion for child care assistance.
- $13 billion allocated to increase supplemental nutrition assistance program and child nutrition benefits.
- $7 billion allocated for broadband access across the country, which helps people to connect remotely during the pandemic.
- The government also allocated a $45 billion package for transportation. The total package includes $2 billion for airports, $1 billion for Amtrak, and $16 billion for employees working in airlines.
