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U.S. Senate Passes $2 Trillion Coronavirus Relief Package

March 26, 2020, 09:30 AM
Filed Under: Economy
Related: COVID-19

The U.S. Senate on Wednesday unanimously backed a $2 trillion bill aimed at helping unemployed workers and industries hurt by the coronavirus epidemic, as well as providing billions of dollars to buy urgently needed medical equipment, Reuters reported.

After bitter negotiations, the deeply divided Senate came together and passed the bill by a 96-0 vote, which sent the massive stimulus package to the House of Representatives for a vote on Friday, Reuters reported. President Donald Trump, whose top aides helped negotiate the bipartisan measure, promised to sign it into law as soon as it reaches his desk.

The rescue package includes a $500 billion fund to help hard-hit industries and a comparable amount for direct payments of up to $3,000 apiece to millions of U.S. families. The legislation will also provide $350 billion for small-business loans, $250 billion for expanded unemployment aid and at least $100 billion for hospitals and related health systems.

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