USA - Congress Passes $900 Billion Coronavirus Stimulus
Tuesday, 12 22 2020, Category: Economy, Country: United States
After months of stalled negotiations and partisan squabbling, Congress passed $900 billion in emergency coronavirus relief in addition to a $1.4 trillion omnibus spending bill to fund the government through late next year.
The historic legislation is the second largest stimulus in U.S. history and comes more than eight months after Congress overwhelmingly passed a $2 trillion stimulus package in late March. The federal government has now spent a total of more than $3 trillion to combat the pandemic, but since the passage of the CARES Act in the spring and the absence of more aid until now, the U.S. has seen a resurgence of the virus with a record number of cases, deaths and hospitalizations and millions more Americans falling into poverty and losing their jobs.