Senate passes $2 trillion coronavirus package

Massive stimulus package passed by Senate by a majority of 96-0 and will now be passed to the House of Representatives.

Arutz Sheva Staff ,

US Capitol
US Capitol

The Senate unanimously passed a massive stimulus package late on Wednesday night in an effort to jumpstart the economy in the wake of the coronavirus pandemic, The Hill reports.

The bill provides more than $2 trillion for workers, small business and industries impacted in recent weeks by the virus.

It was approved in the Senate by a majority of 96-0 and will now be passed to the House of Representatives.

Senate Majority Leader Mitch McConnell (R-KY) compared the efforts by Congress to combat the coronavirus to being on a “war-time footing.”

“This is not even a stimulus package. It is emergency relief. Emergency relief. That’s what this is,” McConnell said Wednesday afternoon ahead of the vote.

The bill marks an unprecedented attempt by the federal government to revive the economy and prevent a deep recession. The 2008 Troubled Asset Relief Program (TARP), by comparison, was $700 billion.

Congress has been under intense pressure to pass a third round of coronavirus relief funding as the United States saw a steady uptick of cases. The Senate’s vote comes one week after they passed a $104 billion “phase two” coronavirus package.

The bill includes a $1,200 one-time check for individuals who make up to $75,000. That amount would scale down until it reached an annual income threshold of $99,000, where it would phase out altogether, according to The Hill.

It also provides $377 billion in small business aid, would defer federal student loan payments through September 30, 2020, and would prevent money given under the bill to the Pentagon to be transferred to the border wall.

The United States had 62,086 confirmed coronavirus cases as of late Wednesday afternoon, according to John Hopkins University.