$2 trillion rescue plan set to clear US House, go to Trump

Washington

The House of Representatives was poised Friday to pass a historic rescue package that injects $2 trillion into the pockets of struggling Americans and fortifies an economy so ravaged by coronavirus that it is sliding toward recession.

After clearing the Senate earlier this week, and as the United States became the new global epicenter of the pandemic with 86,000 confirmed cases of infection, Republicans and Democrats are expected to unite to greenlight the nation’s largest-ever economic relief plan.

It then goes to President Donald Trump’s desk. Trump has indicated he will quickly sign the measure into law, triggering millions of rebate checks of up to $3,400 for an average American family of four.

The bill will pump $100 billion into hospitals and health facilities in critical need of medical gear like personal protective equipment and ventilators, create a $500 billion loan reserve for large corporations including airlines, and provide $377 billion in grants to suffering small businesses.

It also dramatically expands unemployment assistance, aid that will cushion the blow for a staggering 3.3 million people who filed jobless claims in the week ending March 21. “The American people need relief now,” House Democrat Joe Neguse told colleagues. “Not tomorrow, not next week, not next month. Now.”