Coronavirus rescue bill approved; $2 trillion to assist citizens, businesses
Shortly after midnight Wednesday morning, the White House and Senate leaders of both major parties finally announced an agreement on an emergency bill of $2 trillion to rush aid to workers, businesses and the country’s health car system that has been pushed to its limit by the coronavirus pandemic during the past month.
The largest economic rescue measure in the country’s history is intended to assist a number for groups in an attempt to prevent the economy to spiral into a possible recession.
The agreement comes after days of back and forth disagreement between the White House (President Donald Trump) and Senate leaders, both haggling over certain portions of the agreement.
The economic package, which was expected to be passed Wednesday afternoon by the Senate then cleared by the both party leaders, should be signed by President Donald Trump, giving direct payment to most Americans.
The measures expect to also expand unemployment benefits and provide $367 billion for small businesses to assist with payroll while workers are forced to stay home.
Other issues covered under the bill is assistance for subsidized loans to larger industries, and assistance to hospitals and airlines.
On the home front, the package would give one-time payment of $1,200 per adults and $500 per child directly to the public.
In addition, it would assist furloughed workers for months with additional dollars to unemployment benefits, plus help for states and businesses on many levels.
UPDATE: President Trump has approved Governor John Bel Edwards’ request for a major disaster declaration in Louisiana as the number of coronavirus cases continues to rise statewide.
The declaration frees up more direct federal aid for Louisiana’s state and city governments to combat the surging coronavirus outbreak.
The declaration opens access to more federal aid to combat coronavirus in the state.
As the crescent city has recorded the majority of deaths resulting from the coronavirus, New Orleans is set to become the epicenter of the COVID-19 pandemic.
Additional personnel, equipment and set up of additional hospital capacity throughout the state will be allowed with the declaration.