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Trump called the legislation a “disgraceful” and demanded that amendments be made to the text approved by the US Congress early Tuesday morning.
“It really is a shame,” said the president. He criticized the inclusion of financial aid to undocumented people in the country and provisions to help other nations.
“I will ask Congress to immediately remove the useless and unnecessary elements of this legislation and to send me an appropriate bill,” he said.
The US Senate approves a multi-million dollar package to alleviate the effects of the pandemic in the country
Package approved by Congress
In addition to direct payments to the vulnerable population, the package provides assistance to small business owners and the allocation of funds for the distribution of Covid-19 vaccines.
The package is much smaller than the first, $ 2.2 trillion, approved in March, but the financial market was eagerly awaiting it. Agents had new measures to boost the economy after a slowdown in the recovery in recent months.
- REMEMBER: US Reaches $ 2 Trillion Deal To Ease Coronavirus Impacts On Economy
The United States is going through a strong wave of infections and is seeing the closure of trade in the most critical states. On the 14th, the United States reached 300,000 deaths from the disease.
Democrats and Republicans have been negotiating the new stimulus for months, but the parties announced Sunday that they had reached an agreement. The aid division was as follows:
- Small businesses: $ 325 billion
- Direct payments to the population: 166 billion dollars
- Aid to the unemployed: $ 120 billion
- School support: $ 82 billion
- Vaccine testing and distribution program: $ 69 billion
- Rental assistance: $ 25 billion
- Others: US $ 100 billion
See the details of the most relevant points below.
The United States Congress reaches an agreement on a new economic stimulus package
Small businesses will be supported by one of the main measures in the package, which allocates $ 284 billion for “forgivable loans” under the Paycheck Protection Program, which rescued businesses during the pandemic.
The so-called PPP provides loans that can be forgiven if the money is used for expenses such as payroll, rent and other essential expenses. The new contribution increases the program’s eligibility for local televisions and radio stations.
Outside of the small business rubric, but in the business environment, the plan also includes help from around $ 15 billion from airlines, one of the sectors most affected by the pandemic.
Direct payments and rentals
A new round of direct payments to the population, as an income booster. It is the second installment since the start of the pandemic, but there have been changes in values.
This time the rate will be US $ 600 for each adult and an additional US $ 600 for dependents under 17 years of age. The amount is less than the first round, which paid $ 1,200 per adult and $ 500 per dependent.
Those eligible for the program are those who had an income in 2019 of up to US $ 75,000 per year for single people, US $ 112,500 for heads of household or US $ 150,000 for couples. From that amount, there are proportional reductions in transfers.
US Treasury Secretary Steven Mnuchin said Monday that deposits will begin to be made early next week. The measure should boost household consumption and boost the country’s growth.
Others $ 25 billion will go to support tenants struggling to pay rent. The law that prohibits evictions of those who have stopped paying for housing will also run until the end of January.
United States Congress reaches agreement on new economic aid plan
One will be paid extra help for unemployed, even those who are not eligible for traditional unemployment insurance. The rate will be $ 300 per week, also less than the first round ($ 600).
The self-employed, who also wouldn’t meet the unemployment insurance criteria, still earn an additional $ 100 per week.
Another appendix also extends the 50-week deadline for the unemployed to receive Unemployment Support Aid.
Vaccines and tests against Covid-19
The main contribution of the program is for US states to format contact tracing and testing programs to combat the coronavirus. There is 22 billion dollars dedicated exclusively to this purpose.
States receive another portion of the resources for vaccine distribution logistics, along with federal agencies such as the Center for Disease Control and Prevention (CDC).
