Corona Crisis: US Trillion Dollar Recovery Package

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economy Corona crisis

Agreement in the US on trillion dollar stimulus package

| Reading time: 3 minutes

“That will calm the financial markets at least in the short term”

The U.S. Congress and the White House have agreed on a $ 2 trillion aid package to deal with the aftermath of the corona crisis. This already eased the situation on the stock exchange. WELT correspondent Steffen Schwarzkopf reports from Washington.

In the United States, the way is clear for the stimulus package to alleviate the devastating economic consequences of the corona virus. It is said to be two trillion dollars.

Dhe $ 2 trillion stimulus package stands against the consequences of the corona crisis in the United States. After negotiations lasting several days, the US government and Republicans and Democrats in Congress were able to agree on the details of the package, such as Senate Democrat leader Chuck Schumer and Republican majority leader Mitch McConnell in Washington early Wednesday morning (local time) Journalists announced.

After the Senate, the House of Representatives must also formally approve the legislative package. The leadership of the parliamentary chamber controlled by the Democrats has already been involved in the negotiations in the Senate. McConnell said the package should be adopted this Wednesday.

The package is designed to cushion the impact of the pandemic on the US economy, including one-time payments of $ 1200 to most Americans, an expansion of unemployment benefits, and a $ 367 billion program to support small businesses. The hospitals should also receive injections of money. It was controversial until recently to what extent large corporations should also be supported with subsidized loans, including the airlines that were badly hit by the crisis.

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The prospect of an early settlement had given the Dow Jones Index the biggest daily gain since 1933 on Tuesday. President Donald Trump made it clear that, above all, he wants to get the declining US economy going again, already at Easter. “We have to get back to work much earlier than people thought.” If tens of thousands of Americans die of flu or road accidents, the country will not be shut down either.

Trump wants to “accelerate the country again”

He gave the measures because of Covid-19 two weeks. “We will then assess that and we will give it a little more time if it takes a little more time. But we have to accelerate the country again, ”said Trump. “I would love to open the country again and can’t wait to do it for Easter.”

Several U.S. governors criticized Trump’s statements. Maryland’s Republican Prime Minister Larry Hogan said the schedule was probably created with an “invented clock”. New York’s Andrew Cuomo said: “No American will say you should speed up the economy at the cost of a human life. Job number one is to save lives. That has to be a priority. “

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Health experts have urged drastic restrictions on social contacts and urged US citizens to stay at home and largely isolate themselves. Otherwise, the disease would spread quickly and the number of severe courses could overwhelm the health system. There is particular concern in New York that the situation could become dramatic in two weeks.

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https://www.welt.de/wirtschaft/article206780801/Corona-Krise-Einigung-in-den-USA-auf-Billionen-Dollar-Konjunkturpaket.html

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