President Donald Trump signed a law on the allocation of 484 billion USD to support businesses and hospitals under pressure from the coronavirus pandemic in the US.
This support package is the latest federal government effort to save businesses that have had to close or change operations while the states try to slow down the spread of viruses in the United States.
In the past week, about 26 million Americans, or one in six, have signed up for unemployment benefits, according to the AP.
Mr. Trump thanked Congress for “following my words” in passing an important budget, saying it was “a great victory”. Most of the money goes to small businesses through the Wage Protection Program.
“Great for small businesses, great for workers,” Mr. Trump said.
The bill was passed with almost absolute votes in Congress on April 23 when US lawmakers met for the first time since March 27, implementing strict social distance measures.
“Millions of people have lost their jobs,” House Speaker Nancy Pelosi said. “This is really a very, very, very sad day. We are here when nearly 50,000 people have died, a large number of people affected and uncertainty about everything.”
A large part of the support package is the Trump administration’s $ 250 billion proposal to supplement small and medium-sized businesses to help pay small and medium-sized businesses with wages, rent, and other expenses.
The package also includes the $ 100 billion required by Democrats for hospitals and testing programs nationwide, and $ 60 billion for small banks.