The United States has officially passed a $2 trillion stimulus package, the "Coronavirus Aid Relief and Economic Security Act."
United States history has been made amid one of its darkest crises in recent memory, the coronavirus pandemic. The House Of Representative has officially passed the Coronavirus Aid, Relief, and Economic Security Act, complete with the appropriate acronym of CARE. The stimulus package, which consists of $2 trillion dollars, has now moved to the White House to be signed by President Donald Trump.
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Naturally, coming to a conclusion took hours of debate, as is often the case when politicians are forced to gather. Yet they did manage in the end, coming up with a solution designed to provide $1,200 to every American citizen, with hundreds of billions of dollars reserved for businesses both small and large. Apparently, $50 billion has been designated to assist the struggling passenger airline market, which has taken a major hit since the coronavirus rendered recreational travel all but impossible. $367 billion has been designated for small businesses with an employee count of fewer than 500.
CNN reports that the package's creation was nearly stymied by the Republican representative, Kentucky's Thomas Massie, whose insistence in calling an in-person vote had to be thwarted by House leadership -- but not before several fellow representatives were forced to travel to Washington to mobilize against his effort. The move led to a scornful tweet from Donald Trump, who called for Massie's removal of the Republican party.
In any case, the historic package is all set to be made official. The economic effects of the stimulus package have yet to become evident, though it should go a long way in providing some much needed financial stability to an economy on the verge of an unexpected collapse.