Out of the $2.3 trillion, $900 billion are part of the relief bill meant to extend unemployment benefits for jobless gig-workers and independent contractors.
According to the new pandemic #SpendingPackage, approximately 12 million people in two key pandemic #unemployment #programs will enjoy benefits for 11 weeks. Additionally, people receiving jobless payments will get a $300 weekly federal boost through mid-March.
The package sends direct #StimulusChecks of $600 to individuals, while eligible families will receive an additional $600 per child - $100 more than Congress gave families in the first round of relief.
Initially, President Trump had threatened to block the bill, which was approved by Congress last week. But after he came under intense pressure from lawmakers on both sides, he finally signed the new #relief #package, averting a partial government shutdown, which would have put millions of employees at risk.
Sources: edition.cnn.com, reuters.com.
Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.
Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance is not a reliable indicator of future results.