The bill, aimed at cushioning the economy from COVID-19 ravages, will provide small businesses emergency loans, business tax breaks, expanded unemployment benefits, 1,000-dollar-plus direct payments for working Americans, government aid for industries such as airlines and hotels, as well as more support for hospitals and state and local governments.
WASHINGTON, March 27 (Xinhua) -- Following a Senate approval earlier this week, the U.S. House of Representatives on Friday passed a 2-trillion-U.S.-dollar COVID-19 stimulus package by voice vote, sending it to President Donald Trump for signature.
After a four-hour debate at the Capitol Hill, the lower chamber approved the bill Friday afternoon in a voice vote, which is the fastest way to vote. The presiding officer asked for lawmakers present to simply call out "aye" or "nay" in support or opposition of a bill, and announced "the ayes have it."
"Members of Congress are coming together" following the passage of the bipartisan bill, a families & workers-first relief package, House Speaker Nancy Pelosi, a California Democrat, tweeted shortly after the vote. "With my signature, this legislation heads to the President's desk."
Photo taken on March 25, 2020 shows the U.S. Capitol in Washington D.C., the United States. (Xinhua/Liu Jie)
On Wednesday night, the Senate passed the bill in a 96-0 vote, well above the 60-vote threshold, following rounds of strenuous negotiations between Democrats and Republicans.
The bill, aimed at cushioning the economy from COVID-19 ravages, will provide small businesses emergency loans, business tax breaks, expanded unemployment benefits, 1,000-dollar-plus direct payments for working Americans, government aid for industries such as airlines and hotels, as well as more support for hospitals and state and local governments.
The White House had originally proposed a 1-trillion-dollar stimulus package, but several rounds of negotiations among lawmakers ballooned the cost of the package to over 2 trillion dollars. That is far bigger than the 700-billion-dollar Wall Street rescue of the 2008 financial crisis.
Photo taken on March 12, 2020 shows the U.S. Capitol Building in Washington D.C., the United States. (Photo by Ting Shen/Xinhua)
In a statement released after the House vote, the National Retail Federation (NRF) welcomed the swift approval of the bill. "This economic relief package provides a crucial bridge for the millions of American retail businesses and the retail jobs that will help support the U.S. economy through this challenging time," NRF President and CEO Matthew Shay said.
Diane Swonk, chief economist at Grant Thornton, a major accounting firm, wrote in a blog earlier this week that these measures "will not stop a recession from occurring." The goal is to blunt the blow to the economy "so that we have a foundation from which to recover," she said.
At a White House briefing Thursday afternoon, Trump said he was "profoundly grateful" that both parties came together to provide relief for American workers and families "in this hour of need." The president is expected to sign the bill soon.
(Article by Xinhua Reporter Xiong Maoling) ■
