Has become! President Donald Trump signed a stimulus package law to help Americans survive the crisis related to the COVID-19 pandemic. More money will be pumped into the market.
Trump and an important bill
The president signed the package while at his Mar-a-Lago estate in Florida. This means that the US government will avoid the so-called “Shutdown” (the temporary shutdown of some federal institutions).
Recall that the package was voted by the US Congress on December 21st. The program is worth a whopping $ 900 billion. As a result, Americans will once again receive cash benefits (in the form of a transfer or check) – this time in the amount of USD 600 (in spring it was USD 1,200 and USD 500 for each child).
US citizens waited for the package for six months. Negotiations between the government and congressmen from the Republican and Democrats camp had been going on for years. The latter wanted to be more generous and pay citizens up to $ 2,000 per person. It was the Republicans who tried to reduce the amount.
Surprisingly, the final set amount of $ 600 did not satisfy Trump himself, who on Tuesday stated that it was “Absurdly low”. He immediately called on Congress to raise it to $ 2,000 (the value proposed by the Democrats, formally its political rivals). It was not clear whether the president would sign the law. In the end, he decided not to veto her.
Today, in the Democrat-controlled House of Representatives, there will be a vote to raise the amount of direct support to $ 2,000. Republican politicians say they are still opposed to such actions. But they only have a majority in the Senate.
Congress also plans to overrule Trump’s veto on the defense spending bill for fiscal year 2021, which was passed with the support of a majority of MPs from both the Republican and Democratic parties.