Donald Trump signed the bill into law. Adults and children will get $60 each adding $300 to a Weekly unemployment payment for 11 weeks.
Second-round US aid package is designed to cut the impact of the pandemic-led economic crises. The Senate of the United States of America approved $ 900 billion of relief for small businesses and households battered by the pandemic-induced lockdown. This emergency measure is expected to buoy the US through the difficult months ahead, reports a leading global business newspaper. The President signed the bill into law. Adults and children will get $600 each adding $300 to a weekly unemployment payment for 11 weeks. This is the second round of lockdown-impact relief payment. The new measure provisioned an additional $100 a week subsidy for workers who have both wage and self- employment income. but whose basic unemployment benefits don’t take into account their self-employment income, the newspaper reports.
The package has a provision of $325 billion for small business, out of which $284 billion for first and second forgivable Paycheck Protection Program and expands eligibility for local TV. radio broadcasters and newspapers. The farm sector will have a package of $12 billion. which will support crop farmers. cattle ranchers and rural communities. Besides self- employment. the small business and farming sector, the overall package will bring huge relief to the sectors like banks, entertainment. rental assistance. airlines, rail and transit. taxes. postal services. child care. schools, testing and tracing. vaccines. etc. The package is expected to offset the harm left by the pandemic and resultant lockdown in the US.
