Washington, DC – The United States’s Senate overwhelmingly approved a $2 trillion economic rescue bill on Wednesday to help lift the economy and address the coronavirus pandemic.
The Senate vote ratifies a political agreement between leading Senate Democrats, Republicans and the White House and sets the stage for final passage likely later this week.
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The legislation is now under review in the US House of Representatives. If passed, it will be the largest rescue package ever approved by Congress. The president said he would sign the bill as soon as it reaches his desk.
“It’s good news for the doctors and nurses in emergency rooms around the country who are waiting for more masks and more funding,” said Senate Majority Leader Mitch McConnell.
“It will rush new resources onto the front lines of our nation’s healthcare fight and it will inject trillions of dollars of cash into the economy as fast as possible,” the Republican leader added.
US stock markets opened higher on Wednesday, following the announcement of the deal, which was struck in the early morning hours. But the rally lost steam near the close after three Republicans expressed reservations over language in the bill that addressed enhanced unemployment benefits for Americans.
But after hours of negotiations on Wednesday, those Republicans were unable to impose changes to the legislation.