Trump Signs Coronavirus Relief Package – Highlights - Forex News by FX Leaders
Trump Signs Coronavirus Relief Package - Highlights

Trump Signs Coronavirus Relief Package – Highlights

Posted Monday, December 28, 2020 by
Arslan Butt • 1 min read

Ending months of uncertainty and worries, US President Donald Trump finally signed the coronavirus relief bill into law on Sunday, as confirmed by government officials. The law will allow help the US economy by unleashing $2.3 trillion worth of financial aid and stimulus measures, providing some support to unemployed Americans and avoiding a government shutdown.

Earlier last week, Trump had threatened to not sign the bill until lawmakers amended it to increase stimulus checks’ payments from $600 to $2,000 per American. However, he faced severe pressure from bipartisan leaders of the Congress as well as from several other quarters, especially with the economy taking a bigger hit in the wake of the recent spike in fresh cases across parts of the US.

The coronavirus relief package offers $1.4 trillion worth of funding for government agencies, which helps relieve worries of a partial government shutdown that could have hurt incomes of several government employees. In addition, the law will restart unemployment benefits to millions of citizens who have been rendered unemployed, just in time after the previous round of programs wound down on Saturday.

In addition, the package also offers an extension of a moratorium on evictions to support small businesses, which was otherwise due to expire by the end of this year. The latest round of fiscal stimulus measures also provides financial aid to help schools reopen, support the ailing transport sector and even provide funds to aid the rollout of COVID-19 vaccine across the country.

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