Both chambers of the US Congress approved on Monday night the $900 billion relief fund to provide assistance to Americans affected by the Covid-19 pandemic.
The long-awaited relief measure is aimed at providing relief and stimulus checks to Americans including small businesses and industries that were hit hard by the pandemic. The measure also comes with a $1.4 trillion omnibus spending bill which will fund the federal government until September.
The US House of Representatives passed the omnibus bill by a vote of 327 to 85 while the eight spending bills that included the Covid-19 relief measure was approved by a vote of 359 to 53. The measures were then elevated to the US Senate which passed the legislation by a vote of 92 to 6.
As a result of the US Congress’ approval, the stimulus package and the spending bill will be brought to the White House for approval and signature by President Donald Trump to become a law.
Congressional leaders reached a deal on the coronavirus measure Sunday, ending the several months of tough negotiations between Republicans and Democrats that hindered aid to those affected by the pandemic.
“We will do some good with this legislation, but we must recognize that more needs to be done to crush the virus, to put more money in the pockets of the American people,” US House Speaker Nancy Pelosi said on Monday.
The stimulus package included $600 in direct payments to most Americans, $300 per week in enhanced federal unemployment benefits until March 14, and more than $284 billion in loans for businesses through the popular Paycheck Protection Program. The relief measure also extends the moratorium on evictions until January 31 and provides more than $30 billion to accelerate the distribution of coronavirus vaccines.
In a statement to the US Congress, Treasury Department Secretary Steven Mnuchin said:
“I am pleased that the United States Senate and House of Representatives have passed on an overwhelmingly bipartisan basis the Coronavirus Response and Relief Supplemental Appropriations Act, as part of the Consolidated Appropriations Act of 2021. I want to thank President Trump for his leadership and Leader McConnell, Leader Schumer, Speaker Pelosi and Leader McCarthy for working with the Administration to provide critical additional economic relief for American workers, families, and businesses that, through no fault of their own, have been adversely impacted by the coronavirus pandemic.”
Mnuchin said the bipartisan legislation will provide another round of Economic Impact Payments to eligible individuals and families, renew the Paycheck Protection Program to support small businesses and their employees, ensure needed access to unemployment benefits for Americans who have lost their jobs due to COVID-19, and provide additional funding for schools, vaccine distribution, and other important sectors of the economy.
“We are fully committed to ensuring that hardworking Americans get this vital support as quickly as possible and to further strengthening our economic recovery,” he said.
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