$2 Trillion Coronavirus Package in the US

In a statement, it was reported that U.S. senators and Trump administration officials have reached agreement on a major economic stimulus package to mitigate the economic impact of the coronavirus pandemic. The Senate will vote on a USD 2 trillion package later that day (25 March 2020), with the House of Representatives expected to follow on the matter immediately afterward. Following days of discussions between Republican and Democratic lawmakers, Treasury Secretary Steven Mnuchin, other officials and President Donald Trump, Republican Senate Majority Leader Mitch McConnell said in a statement, "This is a wartime investment in our country. We will pass this legislation within the day." Senate Democratic Leader Chuck Schumer characterized the measure as "the largest rescue package in American history," and referring to the U.S.-financed program that helped rebuild Europe after World War II, called it a "Marshall Plan" for hospitals and medical needs. Schumer said, "Help is on the way, big and fast help." McConnell reported that the package will be rapidly deployed to help Americans laid off due to the pandemic pay their bills, expand unemployment insurance, and provide emergency credit to small businesses. Source: Washington (Reuters)