US Senate approves $1.9 trillion economic support package

US Senate approves $ 1.9 trillion economic support package

 

 

The US Senate has adopted a package of measures to support the economy in a pandemic in the amount of $ 1.9 trillion, proposed by President Joe Biden.

 

50 senators voted for the document, 49 against.

 

During the consideration of the bill, a number of amendments were made, and now it will be sent back to the House of Representatives for a final vote. Observers believe that the vote could take place this week.

 

At the same time, there is a risk that it will not be possible to quickly complete the approval of the draft: in the Senate, at the request of the moderate democrats, they were forced to make a number of significant changes to the text. Now, however, these changes may not be to the Democratic Left in the House of Representatives.

 

The nearly $ 2 trillion aid package is expected to go towards boosting the national vaccination program, safe school reopening, support for small businesses, a weekly federal unemployment bonus of $ 400 and child benefits of up to $ 3.6 thousand.

 

Republicans have previously come forward with an initiative to cut aid from $ 1.9 trillion to $ 600 billion. In their opinion, a very significant part of the allocated money, according to Biden's plan, will go to solving problems that are completely unrelated to the economic recovery after the coronavirus.

 

Biden announced the American Rescue Plan on January 20, 2021. Some economists call the stimulus package too ambitious and fear that its adoption could lead to "overheating" of the economy. Their concern is shared by many Republicans in Congress. They call the president's plan a "liberal wish list."