March 26, 2020
With the US Capitol building in the background, motorists drive on Pennsylvania Avenue NW, Wednesday, March 25, 2020, in Washington. Officials have urged Washington residents to stay home to contain the spread of the coronavirus. (AP Photo / Manuel…
The plan, backed by President Donald Trump, is the fruit of arduous negotiations between the Senate and the White House, and it still needs to be approved in the House, which is controlled by Democrats, in a scheduled voting session on Friday, before Congress transfers it to the President for signature.
On Tuesday night, the Senate and White House reached agreement on a plan to stimulate the economy, which was badly hit by the emerging Corona virus epidemic.
Senate Majority Leader Mitch McConnell, commenting on the agreement, said, "After days of intense debate, the Senate reached an agreement between the Republican and Democratic parties on a historic support plan in the face of this epidemic."
McConnell added that the agreement "will allow new means to be sent quickly to the health battle front that our country is waging, and will pump trillions of dollars in cash into the economy as quickly as possible to help families, American workers and small businesses and industries survive volatility."
For his part, Senate Democratic Minority Leader Chuck Schumer also welcomed the agreement the two parties had reached on "the broadest rescue plan in American history".
Schumer explained that these measures respond to "four priorities" and said it would "quickly provide financial assistance to Americans through checks paid directly to middle-class families" and to those with lower incomes, as well as improving unemployment compensation.
Schumer expressed his satisfaction that employees and freelancers who have stopped working will receive "on average, their full salary for four months."
"In this difficult situation, the (plan) will provide historic support to the US real economy through billions of dollars in urgent loans so that more small companies can stay and continue to pay wages to their employees," he said.
He added that the plan "will also allow strengthening our economic bases and ensuring the stability of basic national sectors to prevent the demobilization measures as much as possible, while obliging the major companies to submit their accounts."
He added that the plan "will naturally provide a great help to hospitals and will invest in new treatments and vaccines so that we can defeat this virus as soon as possible and send more equipment and masks to the heroes on the front who put their lives at risk to care for their patients."
Senator Schumer, using military language, emphasized that it was "an investment worthy of a period of war" and that "men and women of the largest country in the world would defeat the Coronavirus" and that "the Senate would make sure that they had the munitions they needed to accomplish this."