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WHITE HOUSE, CONGRESS AGREE ON $2 TRILLION VIRUS RESCUE BILL

Focus: GS-III Disaster Management, Economic Development

Why in news?

  • The White House and Senate leaders of both parties announced agreement early 25th March on unprecedented emergency legislation to rush sweeping aid to businesses, workers and a health care system slammed by the coronavirus pandemic.
  • The urgently needed pandemic response measure is the largest economic rescue measure in history and is intended as a weeks- or months-long patch for an economy spiraling into recession and a nation facing a potentially ghastly toll.

Expected Outcomes

  • The unprecedented economic rescue package would give direct payments to most Americans, expand unemployment benefits and provide a $367 billion program for small businesses to keep making payroll while workers are forced to stay home.
  • It will rush new resources onto the front lines of our nation’s health care fight.
  • It will inject trillions of dollars of cash into the economy as fast as possible to help Americans workers, families, small businesses and industries make it through this disruption and emerge on the other side ready to soar.
  • The unprecedented economic rescue package would give direct a one-time payment of $1,200 per adult and $500 per child directly to the public.
  • It ensures that all workers are protected whether they work for businesses small, medium or large, along with self-employed and workers in the gig economy.



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November 2022
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