House lawmakers will vote on the historic $2 trillion coronavirus relief package today. The president is expected to sign it into law.
Senate Majority Leader Mitch McConnell had introduced the legislation earlier this week, setting off a new wave of talks with Schumer, Mnuchin, Pelosi and McCarthy.
"I'm profoundly grateful that both parties came together to provide relief for American workers and families in this hour of need," Trump told reporters Thursday evening."The House of Republicans must now pass this bill, hopefully without delay. I think it's got tremendous support."The plan includes $300 billion in direct payments to Americans of $1,200 or less, per person, depending on income level. Families could also receive payments of $500 per child.
Another large share of the measure includes an estimated $500 billion in loans and other money for major industries, such as airlines. That provision comes with strings attached, banning use of the the funds towards stock buybacks, CEO pay boosts and other requirements. Democrats have been clear new legislation is needed, but Republicans have been less committal. The bill before the House marks the third congressional measure this month addressing the coronavirus crisis.
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