The US President finally signs the coronavirus bailout bill

The US President finally signs the coronavirus bailout bill

US President Donald Trump has finally signed a $2 trillion (£1.7 trillion) stimulus package to save the countries economy while the country is grappling with the coronavirus pandemic.

The USA currently tops Italy, Spain, and China with 104 256 confirmed positive cases. Italy has confirmed 86,498 cases, and China has confirmed 81,394 cases, while 65,719 cases have been confirmed in Spain.

Italy has recorded 9,134 deaths, the highest number of deaths. Spain followed with 5,138 and China with a total of 3,295 confirmed deaths from the virus.

This implies that the United States is still lagging behind these top European and Asian countries with 1 704 confirmed deaths from the virus.

While the situation in the U.S., where the economy is now on the threat of declining, is still unpredictable, called for an economic stimulus package that Trump signed.

After the Senate discussed its provisions, it was left to the House of Representatives to pass the bipartisan law, which they passed in two days.

The current stimulus package is very important as the number of Americans applying for unemployment rose to a record 3.3 million people on Wednesday.

The signing of the bill was done at the Whitehouse. There were no democratic lawmakers invited during this historic signing ceremony.

Shortly before the law was signed, Trump also referred to the Defense Production Act (DPA), which gives the President the power to force the private industry to produce items required for national defense.

With the order, Trump forced General Motors (GM) to manufacture urgently needed medical ventilators for the federal government.

On Twitter, Trump confirmed that the GM agreed to quickly give the federal government 40,000 much-needed ventilators.

The governor of New York announced Friday that there are eight provisional hospitals to deal with the expected increase in cases. The governor said that 519 people in the state died from the virus and also registered most of the cases.

The bill was presented to Trump for signature after going through several steps. The final step was in the Democratic-led House, where Democrats and Republicans spent three hours debating the law and voting on Friday to approve it.

House speaker Nancy Pelosi said after leading the session that the nation is facing an economic and health emergency caused by this novel coronavirus pandemic, the worst outbreak in over 100 years.

It was a challenge as the members of the house worked from home and were ready to vote at home. However, they had to return after the Kentucky republican representative requested a quorum of half the chamber.

The process was also delayed after Thomas Massie contested that the stimulus package contained too much spending. A formal recorded vote, as opposed to voting, was also requested but was overruled.

The signed law enables direct payments to be made to companies and to people whose livelihood and source of earning have been affected by the outbreak of this pandemic. Every American who earns less than $75,000 a year is entitled to a $12,000 package, and each child’s parents receive $500.

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