U.S. Congress agrees on $900 billion COVID-19 relief package
- 3 years ago
미 상원, 1천조원 규모 '코로나 부양책' 진통끝 합의
A second round of COVID-19 financial relief is set to be rolled out for Americans.
Following intensive negotiations, US Congress reached a last-minute agreement on a 9-hundred-billion dollar package.
Lee Kyung-eun has the latest.
U.S. Congress has reached an agreement on a 9-hundred billion dollar package to help revive its COVID-hit economy.
Senate Majority Leader Mitch McConnell announced the news on Twitter, saying "We will pass another rescue package ASAP. More help is on the way."
This comes after hours of a late night marathon negotiation on Saturday,... which cleared one of the key hurdles -- the issue of the central bank's emergency lending authority.
Republican Pat Toomey pushed for a provision to close down the Fed's pandemic emergency lending facilities, calling it an act of "intervention".
But the Pennsylvania Republican and Senate Democratic Leader Chuck Schumer agreed in principle,... providing that the Fed maintains authority but must require Congressional approval before lending.
"...Now, this compromise should not have taken as long as it did....But I'm very glad that our Republican colleagues relented and accepted our offer. The Toomey legislation was the last significant stumbling block to a bipartisan agreement moving forward."
The package would give $600 direct payments to individuals, and boost unemployment payments by $300 per week.
And $330 billion will be set aside for small business loans,... more than $80 billion provided for schools, and billions for vaccine distribution.
The package would be the second biggest stimulus in U.S. history, following a $2.3 trillion relief bill passed in March.
However, there are still a series of steps needed to be taken, from locking down the details of the package to pushing for a quick vote,... all before the deadline of the government shutdown on Sunday.
Lee Kyung-eun, Arirang News.
A second round of COVID-19 financial relief is set to be rolled out for Americans.
Following intensive negotiations, US Congress reached a last-minute agreement on a 9-hundred-billion dollar package.
Lee Kyung-eun has the latest.
U.S. Congress has reached an agreement on a 9-hundred billion dollar package to help revive its COVID-hit economy.
Senate Majority Leader Mitch McConnell announced the news on Twitter, saying "We will pass another rescue package ASAP. More help is on the way."
This comes after hours of a late night marathon negotiation on Saturday,... which cleared one of the key hurdles -- the issue of the central bank's emergency lending authority.
Republican Pat Toomey pushed for a provision to close down the Fed's pandemic emergency lending facilities, calling it an act of "intervention".
But the Pennsylvania Republican and Senate Democratic Leader Chuck Schumer agreed in principle,... providing that the Fed maintains authority but must require Congressional approval before lending.
"...Now, this compromise should not have taken as long as it did....But I'm very glad that our Republican colleagues relented and accepted our offer. The Toomey legislation was the last significant stumbling block to a bipartisan agreement moving forward."
The package would give $600 direct payments to individuals, and boost unemployment payments by $300 per week.
And $330 billion will be set aside for small business loans,... more than $80 billion provided for schools, and billions for vaccine distribution.
The package would be the second biggest stimulus in U.S. history, following a $2.3 trillion relief bill passed in March.
However, there are still a series of steps needed to be taken, from locking down the details of the package to pushing for a quick vote,... all before the deadline of the government shutdown on Sunday.
Lee Kyung-eun, Arirang News.