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US Senate, White House agree on $2tn Covid-19 spending bill
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IANS | 25 Mar, 2020
The White House and the US
Senate leaders here on Wednesday reached an agreement on the $2 trillion
coronavirus spending bill aimed at alleviating the economic impact of
the outbreak, the top Republican lawmaker said.
Under the plan,
people making up to $75,000 a year are expected to receive checks for
$1,200. Couples making up to $150,000 would receive $2,400, with an
additional $500 per child. The new agreement removed the phased-in
provision that would have excluded lower-income Americans from receiving
the full benefit, NBC news reported.
The payments would decrease
for those making more than $75,000, with an income cap of $99,000 per
individual or $198,000 for couples.
"At last, we have a deal,"
Senate Majority Leader Mitch McConnell said citing the massive "wartime
level of investment into our nation." McConnell said he expected the
Senate to pass the legislation on Wednesday.
Treasury Secretary
Steve Mnuchin said President Donald Trump would "absolutely" sign it if
Congress passed it, Gulf News reported.
Senate Minority Leader
Chuck Schumer said in the Senate floor early Wednesday, "We have a
bipartisan agreement on the largest rescue package in the American
history. This is not a moment of celebration, but one of necessity."
"Like
all compromises, this bill is far from perfect. But we believe the
legislation has been improved significantly to warrant its quick
consideration and passage. Because many Democrats and Republicans were
willing to do the serious hard work, the bill is much better off than
where it started," he said.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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