“We were hit by the invisible enemy and we were hit hard,” said the President during a signing ceremony in the Oval Office. Donald Trump promulgated a stimulus package mobilizing $ 2.2 trillion on Friday. It is the largest package of measures ever adopted in the United States.
The occupant of the White House once again predicted a “spectacular” economic rebound in the world’s largest economy, once the fight against the virus had been won.
Now the world’s top country in the number of officially reported coronavirus cases (more than 97,000), the United States recorded a new dark record on Friday, with 345 people killed in just 24 hours. The World Health Organization now fears that the country and its nearly 330 million inhabitants, may become the next epicenter of the pandemic.
“Our Nation is facing an economic and health emergency of historic scale,” declared the Democratic President of the House of Representatives, Nancy Pelosi, just before the adoption of this plan by Congress.
Hundreds of billions of dollars to help businesses
The plan includes sending a check for $ 1,200 to many Americans, nearly $ 400 billion in assistance to small businesses, and $ 500 billion in assistance to large companies, which will be monitored by a controller general.
It also allocates some $ 100 billion to hospitals, and $ 30 billion to fund research into Covid-19 vaccines and treatments.
A 25 billion envelope is also intended for airlines, which will benefit from more than 25 billion dollars in loans and loan guarantees.
It is the third time in less than a month that the US Congress has adopted exponentially increasing measures to fight the pandemic. And a fourth is on the horizon, said Nancy Pelosi.
“We know this cannot be our last step,” she said on Friday. “We need to do more for our medical staff” and local governments.
On March 5, parliamentarians urgently released $ 8.3 billion to finance the fight against the coronavirus. Then on March 18, they approved a large $ 100 billion social assistance plan.