Saudi Arabia approves new financial settlement rules for corruption cases    IMCTC launches second phase of Sahel Countries Program in Niger    Riyadh Season 2024 attracts over 18 million visitors    Disaster happened in 'world's most controlled airspace'    American and father of youngest hostages among those due for release from Gaza Saturday    Palestinian born after father was jailed hugs him for the first time    FireAid: Stars take to stage for LA benefit concert    Singer and actress Marianne Faithfull dies at 78    Saudi, Russian foreign ministers discuss regional issues in phone call    MWL chief meets Italian president in Rome; thanking him for supporting two-state solution    Ettifaq sack Steven Gerrard after poor results, appoint Saad Al-Shehri as new head coach    National Cybersecurity Authority launches 2nd phase of Postgraduate Scholarship Program    GASTAT: Real GDP records growth of 4.4% in Q4 2024    Saudi Arabia launches inaugural Art Week Riyadh on April 6-13    HP is redefining the Future of Work with AI    Mona Lisa to be moved as part of major Louvre overhaul    Neymar bids heartfelt goodbye to Al-Hilal: I will always support you    Al-Nassr announces transfer of Brazilian forward Talisca to Fenerbahçe    SFDA chief rules out plan to ban sale of cigarettes or vapes    Al Hilal and Neymar mutually agree to part ways    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



US president signs $2.2tn stimulus package into law
Published in The Saudi Gazette on 28 - 03 - 2020

President Donald Trump signed an unprecedented $2.2 trillion economic rescue package into law on Friday, after swift and near-unanimous action by Congress this week to support businesses, rush resources to overburdened health care providers and help struggling families during the deepening coronavirus epidemic.
Acting with unity and resolve unseen since the 9/11 attacks, Washington moved urgently to stem an economic free fall caused by widespread restrictions meant to slow the spread of the virus that have shuttered schools, closed businesses and brought American life in many places to a virtual standstill.
"This will deliver urgently needed relief," Trump said as he signed the bill in the Oval Office, flanked only by Republican lawmakers. He thanked members of both parties for putting Americans "first."
Earlier in the day, the House of Representatives gave near-unanimous approval by voice vote after an impassioned session conducted along the social distancing guidelines imposed by the crisis. Many lawmakers sped to Washington to participate — their numbers swollen after a maverick Republican signaled he'd try to force a roll call vote — though dozens of others remained safely in their home districts.
The Senate passed the bill unanimously late Wednesday.
"The American people deserve a government-wide, visionary, evidence-based response to address these threats to their lives and their livelihood and they need it now," said House Speaker Nancy Pelosi, D-Calif.
The $2.2 trillion legislation will speed government payments of $1,200 to most Americans and increase jobless benefits for millions of people thrown out of work. Businesses big and small will get loans, grants and tax breaks. It will send unprecedented billions to states and local governments, and the nation's all but overwhelmed health care system.
Many lawmakers summoned the bipartisan spirit of 9/11 and efforts to fight terrorism. Others praised the roles low-income workers play in keeping the country going and the heroism of health care workers. Some, like Iowa Democrat Abby Finkenauer, who had just learned of two additional coronavirus-related deaths in her district, came close to tears.
Others couldn't restrain their partisan impulses. Republicans chided Democratic leaders for delays and provisions they see as extraneous, such as funding for public broadcasting and the arts; Democrats said too many elements are a bailout for corporations that may not need it.
The run-up to the vote contained an element of drama because libertarian conservative Thomas Massie, R-Ky., announced plans to seek a vote. The leaders of both parties united to prevent that because it would have forced lawmakers back to the Capitol or blemished their voting records if they stayed home. Instead, they made sure enough lawmakers would attend Friday's session to block Massie's move under the rules, and lawmakers took the unprecedented step of sitting in the visitors galleries to establish the necessary quorum.
$1,200 direct payments
The legislation will give $1,200 direct payments to individuals and make way for a flood of subsidized loans, grants and tax breaks to businesses facing extinction in an economic shutdown caused as Americans self-isolate by the tens of millions. It dwarfs prior Washington responses to crises like 9/11, the 2008 financial crisis, and natural disasters.
The massive CARES Act started as a draft plan among Republicans controlling the Senate who were seeking a greater voice in the coronavirus response efforts -- especially after Pelosi was a dominant force in earlier legislation imposing a sick leave mandate on businesses. -- Agencies


Clic here to read the story from its source.