President of the United States, Donald Trump, officially rolled out the biggest stimulus package in American history. (Image via Al Jazeera)

Official! Trump rolls out US$2 trillion for COVID-19

Alfonsus Adi Putra
Politics & Economic
Economic
Mar 28, 2020
1865
On Friday, the President of the U.S, Donald Trump, had signed the stimulus package law only a few hours after the House of Representatives signed the draft.

Therefore, the U.S Government officially rolled out a US$2 trillion stimulus package in order to save its economy receiving blows from the novel coronavirus (COVID-19) pandemic outbreak, the biggest economic stimulus package in the American history.

According to the Speaker of the House of Representatives, Nancy Pelosi, the U.S is facing the worst economic and health crisis due to the COVID-19. Pelosi referred to COVID-19 as the worst pandemic in the last 1,000 years.

Speaking in the White House, Trump thanked both Democrats and Republicans for coming together and prioritizing the lives of the American people. The POTUS said that the incentive was very helpful for the families, workers, and even business people affected negatively by the pandemic originating from Wuhan, Hubei Province, Central China.

However, per Saturday, the U.S recorded the positive cases of COVID-19 has reached 103,000. The number even beat China.

The Secretary of Treasury, Steven Mnuchin, vowed to distribute the stimulus quickly through checks. He estimated that the American people would receive the cash by three weeks.

From US$2 trillion, about US$100 billion would be donated for hospitals and other healthcare facilities across the country, in need of medical equipment and protective gear. US$500 billion would be loaned for companies, including airlines. Meanwhile, US$377 billion would be granted to small and medium enterprises.

The rest of the stimulus package would be donated to assist the jobless. Per 21 March, about 3.3 million Americans submitted jobless claims.

Even then, the value of U.S stock keeps slumping in the global market. Dow Jones Industrial Average stock went down by 4.1 percent, S&P 500 by 3.4 percent, and Nasdaq by 3.8 percent.

Source: https://bit.ly/39og06J

Politics , Economy , Stimulus , Medical , Health , Pandemic , COVID-19 , U.S , Donald-Trump