House Faces Urgency to Act on $2 Trillion Virus Rescue after Senate Passes the Bill

From Bloomberg News:

The U.S. Senate approved a historic $2 trillion rescue plan to respond to the economic and health crisis caused by the coronavirus pandemic, putting pressure on the Democratic-led House to pass the bill quickly and send it to President Donald Trump for his signature.

The massive legislation passed on a 96-0 vote just before midnight Wednesday after days of intense negotiations between Senate Republicans and Democrats, who demanded changes to the bill introduced last week by Senate Majority Leader Mitch McConnell.

The package includes an unprecedented injection of loans, tax breaks and direct payments for major corporations and individual taxpayers to help the U.S. economy get through an abrupt shutdown as people avoid social interaction and businesses close to keep from spreading the coronavirus. More than 68,000 people in the U.S. have been infected with the deadly respiratory disease, and some economists warn that unemployment could hit 30%.

The House is scheduled to vote on the legislation Friday. Trump urged Congress to act “without delay” and said he would sign the legislation immediately.

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