Donald Trump Enacted The New USD 483 Billion Aid Package For The Coronavirus

President Donald Trump signed a new aid package for $ 483 billion this Friday to support the United States economy, which is severely affected by the restrictions imposed in the face of the coronavirus pandemic.

“It is good news for small businesses and it is good news for workers,” the president said during the law’s enactment ceremony, following its approval Thursday by Congress.

Most of the resources, which follows a $ 2.2 trillion plan approved in March, will go to medium and small businesses.


After being approved by the Senate earlier in the week, the bill was adopted by the House of Representatives on Thursday, when another 4.4 million US workers applied for new unemployment benefits.

Thus, applications for unemployment aid reached 26.4 million since mid-March.

The unemployment rate skyrocketed in a country paralyzed to contain the spread of the virus, which already leaves more than 50,000 Americans dead.

The new package includes $ 320 billion for companies to keep their doors open and pay their employees, after the first tranche of $ 349 billion was sold out.

Loans will resume on Monday, according to a statement Friday from Treasury Secretary Steven Mnuchin.

The first tranche helped 1.6 million businesses and protected more than 30 million jobs, and with the additional funds, “tens of millions of workers will benefit from this critical relief,” according to the Treasury.

However, the statement cautioned that lenders “should carefully review the regulations and certifications required to obtain the loan,” a reference to rules that prohibit large companies from benefiting from this program.

The government tightened the rules after the controversy because large restaurant chains received tens of millions of dollars from the program.

The new package also provides $ 75 billion in aid to hospitals, $ 25 billion for coronavirus diagnostic tests, and $ 60 billion for loans to farmers and ranchers.

(With information from AFP)



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