COVID-19: Trump To Give Minimum Of $1,200 To Poor Americans


Get real time updates directly on you device, subscribe now.

President Donald Trump has signed a $2.2 trillion (N827 trillion) financial stimulus package which is aimed at easing tension in the United States due to the coronavirus pandemic.

This came hours after the country’s House of Representatives approved the bipartisan bill, which the Senate passed on Wednesday.

According to recent reports, the United States surpassed Italy and China in the total number of coronavirus cases recorded so far.
This financial stimulus package will make direct payments of $290 billion (N109 trillion) to Americans earning below $99,000 (N37 million) per annum.
They are expected to get directly up to $1,200 (N451,000) each, in addition to $500 (N188,000) per child.
On Wednesday, a record 3.3 million Americans filed for unemployment benefits amid massive job losses occasioned by the pandemic.

Read also: Teen tests positive for coronavirus, dies one day after

The package includes the payment of another $260 billion (N97 trillion) to jobless and laid-off workers for up to four months.

Small businesses with fewer than 500 employees and airlines will get a total of $881 billion (N331 trillion) as soft loans to cushion the economic effect of the virus.

After the signing at the White House in Washington, Trump thanked “Democrats and Republicans for coming together and putting America first”.

He said the package would pave way for economic recovery in the U.S., adding that the country would have “a tremendous rebound’’.

Leave a Reply

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.