Federal officials reach deal on $2 trillion stimulus package

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Chrisemmy
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Federal officials reach deal on $2 trillion stimulus package

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The White House and Senate leaders from both parties have struck an agreement on a sweeping $2 trillion measure to aid workers, businesses and a healthcare system strained by the rapidly spreading coronavirus outbreak.

The agreement came after days of often intense haggling and mounting pressure; it still needs to be finalized in detailed legislative language.

The unprecedented economic rescue package would give most Americans direct payments, expand unemployment benefits and provide a $367bn programme for small businesses to keep making payroll while workers are forced to stay home.

One of the last issues to close concerned $500bn for guaranteed, subsidised loans to larger industries, including a fight over how generous to be with the airlines. Hospitals would get significant help as well.

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