With the backdrop of President Trump declaring himself a “wartime president,” the Senate easily approved a bipartisan coronavirus relief bill that was recently passed by the House last night. The vote was 90-8. He signed it into law soon after.
The sweeping measure includes free coronavirus testing, paid sick leave for workers who need it, a boost in unemployment benefits and food assistance. House Democrats said the goal of their bill was to put "families first." Majority Leader Mitch McConnell noted that the Senate will accelerate work on a massive economic stimulus package.
That package proposes $500-billion in checks to millions of Americans, with the first checks to come April 6th if approved by Congress. The rest of that stimulus package reportedly includes a $50-billion to aid the hard-hit airline industry, $150 billion for other distressed sectors of the economy, and the creation of a small business interruption loan program.
As for those suggestions by Treasury Secretary Steve Mnuchin that the nation’s unemployment rate could hit 20%? Trump says it’s not going to happen. That’s an “absolute total worst case scenario,” Trump said. “We’re no way near it.”
Source: CNBC