Congress Agrees to $900 Bln Aid package Deal

Congress signed a deal on Sunday a $900 billion coronavirus relief package, according to Senate Majority Leader Mitch McConnell and Minority Leader Chuck Schumer. Meanwhile, the deal will provide immediate aid to Americans and businesses to help them cope with the economic devastation of the pandemic and fund the distribution of vaccines.

According to WASHINGTON post, the Congress deal would deliver the first significant infusion of federal dollars into the economy since April, as negotiators broke through months of partisan gridlock that had scuttled earlier talks, leaving millions of Americans and businesses without federal help as the pandemic raged.

On other hand, the House Speaker Nancy Pelosi explained that the plan inadequate and noted they would soon push for more relief spending after President-elect Joe Biden takes office on Jan. 20. Moreover, the relief plan includes direct payments of $600 to most adults and $600 per child, according to Pelosi.

In contrast, the Democrats noted it would put $284 billion into Paycheck Protection Program small business loans, and include funds for loans from small and minority-owned lenders. It would direct another $20 billion to small business grants and $15 billion to live event venues, according to CNBC report. Also, the plan includes $45 billion for transportation, including $15 billion for airline payroll assistance.