Senate Agrees On Roughly $2 Trillion Stimulus Package

Wednesday, March 25th 2020, 2:16 am
By: News 9

The U.S. Senate reached an agreement on $2 trillion dollar stimulus package at midnight on Wednesday, that would help with the economic fallout from the COVID-19 outbreak.

The chamber will vote on the bill at 11 a.m.

The bill includes funds for businesses and payments for most working Americans. Around $500 billion dollar would go to big businesses and $367 billion would go to small businesses.

As for the cash payments to Americans, an individual would receive $1,200, whereas an average family would get $3,000. It would also expand unemployment insurance from 26 weeks to 39 in most states. That would boost benefits by $600 a week.

Both sides of the aisle say they worked hard to come up with this package.

“After days of intense discussions, the senate has reached a bipartisan agreement on a historic relief package for this pandemic,” said Senator Mitch McConnel of Kentucky, the Senate Majority Leader.

The Senate Minority Leader Chuck Schumer appeared to also be behind the package. 

“To all Americans I say, help is on the way, big and quick help,” the Senator from New York said. “We’re going to take up and pass this package to care for those who are caring for us.”

The agreement came hours after President Donald Trump suggested getting people back to work in less than three weeks. Democrats argue the government shouldn't rush Americans back to their jobs.

The U.S. House of Representatives is expected to vote on the bill later this week.