Americans to get N440,000 each as the country’s Representatives approved the bipartisan bill, amid Coronavirus pandemic

1 min read
   
Share this article to:

The United State President,  Donald Trump on Friday signed the $2.2 trillion (N827 trillion) financial stimulus package to cushion the economic impact of the coronavirus pandemic in the United States.

This came hours after the country’s House of Representatives approved the bipartisan bill, which the Senate passed on Wednesday.

U.S. is currently the hardest-hit country in terms of the COVID-19 infections, accounting for no fewer than 99,000 cases.

Under the law, the government will make direct payments totaling $290 billion (N109 trillion) to Americans earning below $99,000 (N37 million) per annum.

They are expected to get directly get up to $1,200 (N440,400) each, in addition to $500 (N188,000) per child.

On Wednesday, a record 3.3 million Americans filed for unemployment benefits amid massive job losses occasioned by the pandemic.

ALSO: Facebook launches community leadership programme, to increase empowerment rate in Nigeria

The package includes the payment of another $260 billion (N97 trillion) to jobless and laid-off workers for up to four months.

Small businesses with less than 500 employees and airlines will get a total of $881 billion (N331 trillion) as soft loans to cushion the economic effect of the virus.

In brief remarks, after the signing at the White House in Washington, Trump thanked “Democrats and Republicans for coming together and putting America first”.

He said the package would pave way for economic recovery in the U.S., adding that the country would have “a tremendous rebound’’.

Like this post

 Share your thought on this article at the comment section below, we would love to hear from you. Comment attracts points!

Share information with us, get us involved with the happening around you: Call us,  Sms,  or Send message on Whatsapp  via: 09021263886
Email: [email protected]

Leave a Reply

Sponsored

     

Login with your Social Account


Share your thoughts...