Washington – House legislature approved Thursday’s approval of a $ 484 billion coronavirus aid package as new unemployment rates add to the astonishing toll the pandemic has taken on the US job market. President Trump is now expected to sign the law, which the legislature passed with a vote of 388-5.
The legislation, known as the Paycheck Protection Program and Health Care Enhancement Act, is the result of weeks of negotiations between Congress Democrats and the White House. The measure includes $ 75 billion for hospitals, $ 25 billion for the establishment of a national testing regime, $ 60 billion for disaster relief, and $ 310 billion for the(PPP), which grants loans to small businesses to help them retain workers and payroll. The PPP used up its initial $ 349 billion in funding last week.
The vote is taking place, as new government data showThe first jobless applications were made last week, bringing the total number of people who lost their jobs during the pandemic to around 26 million.
Approximately $ 60 billion of new PPP funds will be dedicated to financial institutions serving businesses in rural areas without banks and minority interests, which is central to Democrats.have been particularly hard hit by the pandemic, which has exacerbated structural problems that make it difficult for minority owners to access capital.
The vote takes place when the house tries to figure out how to continue its work without endangering its members. The House Democrats presented a resolution on Wednesday that allowed members to do soThis means that a member can vote on behalf of a colleague who is not present. The Republicans, however, rejected the proposed rule change and argued that the house should officially go back to work.
After talks between spokeswoman Nancy Pelosi and minority leader Kevin McCarthy, the Democrats agreed to postpone the vote on a rule change for the time being, and the house instead voted in favor of setting up a bipartisan coronavirus crisis selection committee to cover spending Billions to bill with multiple relief to monitor.
The house and the Senate are not expected to meet again until May. Democrats argue that lawmakers must start work on another phase of relief legislation that would provide more support to state and local governments, but Republicans have questioned whether it is necessary to work on new ones so quickly Laws to begin with.