US Senate Passes $2 Trillion Stimulus Package To Combat The Economic Fallout Of Covid-19 Pandemic
US Senate Passes $2 Trillion Stimulus Package To Combat The Economic Fallout Of Covid-19 PandemicUS Capitol building (Representative Image) (Pic Via Wikipedia)

The US Senate has passed a $2 trillion stimulus package in an effort to combat the economic fallout in the country due to the coronavirus pandemic.

The package was passed on Wednesday (25 March) night after rounds of negotiations between Democrats and Republicans, reports Xinhua news agency.

The upper chamber passed the bill in a 96-0 vote, well above the 60-vote threshold.

The package needs to be approved by the House of Representatives, before being sent to President Donald Trump's for his signature.

The bill, aimed at cushioning the economy from the COVID-19 pandemic, will provide small businesses emergency loans, business tax breaks, expanded unemployment benefits, $1,000-plus direct payments for working Americans, government aid for industries such as airlines and hotels, as well as more support for hospitals and state and local governments.

Calling it an "emergency relief", Senate Majority Leader Mitch McConnell, a Kentucky Republican, said at the Senate floor earlier in the day that the package will "help the people of this country weather this storm".

The development comes as the number of coronavirus cases in the US has increased to 69,018 with 1,042 deaths, according to the latest update by the Washington-based John Hopkins University.

New York, the epicentre of the outbreak in the country, has reported 280 fatalities 17,856 cases.

(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber
Advertisement