Congressmen rush to approve additional funding for American citizens

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Congressmen rush to approve additional funding for American citizens

Congressmen rush to approve additional funding for American citizens

We are talking about increasing the program to ensure the payment of salaries by 350 billion dollars

Less than two weeks after U.S. lawmakers approved the country’s largest economic aid package on Thursday, April 9, Congress is set to pledge even more money to help Americans hit by the coronavirus outbreak..

Congress wants to approve additional funding for the $ 350 billion payroll protection program, which will be implemented under the CARES Act, passed to provide assistance and economic security measures in connection with the coronavirus pandemic.

The $ 2.2 trillion economic package was swiftly passed by Congress in late March, as the pandemic affected many U.S. companies and were forced to shut down. The temporary closure of thousands of businesses has contributed to a record rise in unemployment, with nearly 10 million Americans asking for unemployment benefits during the second half of March. There has not been a similar jump in unemployment in the country since 1982. Many analysts believe that these numbers may soon reach levels that were last seen in the United States only during the Great Depression in the 1930s..

Under CARES, laid-off and unemployed Americans will receive federal benefits of $ 600 a week for four months, in addition to their regular benefits..

The law also provides for assistance to private entrepreneurs and small business owners. Small companies will be given loans to cover wages and expenses that entrepreneurs incur during the economic downturn.

According to the White House, by April 7, in just five days of the program, the Small Business Administration issued more than 220,000 loans to entrepreneurs totaling $ 66 billion. In a request to Congress, the White House asked lawmakers to increase funding for the program by $ 251 billion.

“It is quickly becoming clear that Congress will need to provide more funding or this important program could end,” Senate Majority Leader Mitch McConnell said Tuesday. – This cannot be allowed. Nearly 10 million Americans have applied for unemployment benefits in just the past two weeks. This is a tragic record, and every day counts now “.

Acceptance of applications for participation in the program began last Friday. Many entrepreneurs were unable to take part in it, since the banks serving them were not included in the list of creditors participating in the state program. Other applicants report long waiting times for information.

Congressional Democrats on Wednesday endorsed a call for more funding, urging some of the money to go towards spending in favor of women, various minorities and military veterans..

The Funding Increase Bill will be put to a vote in the Senate through an expedited procedure. Then it will be considered in the House of Representatives, and this may happen as early as next Friday..

The bill is supported by both parties. Immediately after the vote, the bill will be submitted for signature to President Donald Trump.

In addition, negotiations on a second round of aid to the economy will begin on April 20. Democrats are likely to ask the administration to make direct payments to Americans, in addition to a one-time payment of $ 1,200 to those millions of citizens whose annual income does not exceed $ 75,000 a year. The first phase of these payments will begin in mid-April.

Chuck Schumer and Nancy Pelosi, Congressional Democratic leaders

On Tuesday, Chuck Schumer, leader of the Democratic minority in the Senate, called for a $ 25,000 increase in salaries per year for emergency services personnel who are directly involved in the fight against coronavirus..

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