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US Congress gives final approval on $484bn relief package Latest News

The United States House of Representatives voted 388 to 5 on Thursday to approve a bill to provide 4 484bn for small businesses, hospitals and the national COVID-19 testing strategy.

The bill was unanimously approved by the US Senate after bilateral talks with the White House on Tuesday and will now go to US President Donald Trump for its signature. Trump is expected to sign the bill soon.

“The Kovid-1p epidemic is plaguing America. Small businesses have shut down. Thousands have died. Millions of Americans are unemployed. Rome is burning. We can either set fire or watch our great nation sink into flames.” Representative Hakim Jeffries, a Democrat, said pushing the law.

“This is a strong step in the right direction,” Jeffries added.

Emergency Cost Package, U.S. It adds about 3 20,320bn to a program designed to help small businesses keep employees on their payroll until the economy reopens.

Congress provided b 350bn for small businesses under the Paycheck Protection Program in March, but the money was quickly depleted by overwhelming demand.

The program was created to help companies with less than 500 employees, but many large companies found ways to get funding from their banks in the first round.

Under the new bill, U.S. Demands have been made to compensate for inequalities in the financial system, with new funds of કરોડ 600 million being distributed by sea lenders in low-lying neighborhoods and rural areas.

More than 26 million Americans have lost their jobs since the coronavirus epidemic forced businesses to close.

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