America's $US2 trillion coronavirus emergency cash bill has passed the Senate, but the fight isn't over
4 years, 9 months ago

America's $US2 trillion coronavirus emergency cash bill has passed the Senate, but the fight isn't over

ABC  

With millions of people's financial futures at stake, US senators and the Trump administration have struck an agreement on a $US2 trillion package to help the US economy manage the impact of coronavirus. Stay up-to-date on the coronavirus outbreak Download the ABC News app and subscribe to our range of news alerts for the latest on how the pandemic is impacting the world Just to give you an idea of how much money is at stake in the stimulus legislation, the amount exceeds what the US spends on national defence, scientific research, highway construction and other discretionary programs, combined. But one passage in the unemployment section has enraged some Republican senators: "The amount determined under subsection shall not be less than $600," the bill says in the recovery rebate section. The Government faces a tough task ahead, with the US Federal Reserve's James Bullard predicting the unemployment rate in America could hit 30 per cent.

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