Coronavirus breakthrough: Trump grants trillion dollar package for Americans
The package was announced early Wednesday by the White House.
An agreement between congress, senators and the government has been reached after intense discussions.
The legislation is expected to be enacted within days.
It is the biggest economic stimulus package in modern American history.
The package is meant to send direct payments and jobless benefits to individuals affected by the virus.
It also grabs money to states and businesses devastated by the loss of profits through the pandemic.
The news comes after businesses across the states have faced closure and major losses.
It also follows the American stock market reaching a historic low after years of increase.
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The deal is the result of furious negotiations between different legislative bodies.
Shortly before 1am GMT, the marathon round of haggling nearly fell apart.
Democrats insisted on stronger worker protections and a $500 billion dollar fund to bail out businesses.
They also twice blocked action on the measure, insisting on concessions.
Steven Mnuchin, the Treasury secretary, told reporters: “We have a deal.
“We have either, clear, explicit legislative text reflecting all parties or we know exactly where we’re going to land on legislative text as we continue to finish.”
The text of the bill itself still needs to be finished before it is ratified.
The major details of the landmark bill, however, are agreed upon.
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- New York facing coronavirus meltdown as new cases explode
President Donald Trump has stated that he wants the American economy to recover as soon as possible.
The Dow Jones has fallen to its lowest point since the 2008 economic crisis.
President Trump has since willed the American economy to reopen by Easter.
This would come at the end of the 15 day quarantine enacted on March 13th.
America have struggled to contain the outbreak of coronavirus over the last week.
As of Tuesday the number of cases reached 52’671.
Just under half of those were in New York State, which has confirmed 25’665 cases.
The death toll from the disease in the US reached 682.
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