US Congress Approves $900 Billion COVID-19 Stimulus Package

United States Congress, on Monday evening, voted to approve a far-reaching $900 billion COVID-19 relief package that promises to accelerate vaccine distribution.

The stimulus package is also expected to deliver the much-needed aid to small businesses hit hard by the COVID-19 pandemic, Americans who have lost their jobs during the economic upheaval and health care workers on the front lines of the crisis.

“We can finally report what our nation has needed to hear for a very long time: More help is on the way,” Senate Majority Leader, Mitch McConnell said while announcing the deal on Sunday night.

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The White House has said that President Donald Trump will sign the legislation once it reaches his desk.

Final passage of the aid package came after Hill leaders announced Sunday evening they had finally reached a deal after months of bitter partisan stalemate and days of contentious negotiations that created uncertainty over whether an agreement could be reached at all or if talks would collapse.

The rescue package, which was negotiated on a bipartisan basis, was combined with a massive $1.4 trillion government spending bill to fund federal agencies for the new fiscal year in a 5,593-page bill.

It will include direct payments of up to $600 per adult, enhanced jobless benefits of $300 per week, roughly $284 billion in Paycheck Protection Program loans, $25 billion in rental assistance, an extension of the eviction moratorium and $82 billion for schools and colleges.