The $2 trillion COVID-19 coronavirus stimulus bill, which includes one-time payments to individuals, strengthened unemployment insurance, additional health-care funding and loans and grants to businesses to deter layoffs, was passed by the US Senate unanimously on Wednesday night. Today the bill was passed in the US House of Representatives.
President Donald Trump has promised to sign the legislation “immediately.” While it is unclear how quickly the government will dole out some of the money such as small business loans, the White House and congressional leaders have said some individuals will see direct payments of up to $1,200 within three weeks.
The push to pass the proposal comes a day after data showed unemployment claims skyrocketed to a record 3.3 million last week after businesses across the country closed to slow the pandemic’s spread.
MacDailyNews Take: More to come.