The financial aids of $2 trillion have been planned after a negotiation between Democrats and the White House. On Monday, Treasury secretary and the top Senate Democrat had declared about providing economic aid to sustain the present condition of the country that occurred due to the widespread of coronavirus crisis. On the deal of the financial aids, the democrats have demanded strong protection of the health workers and reservations for the bailed-out businesses.
Coronavirus crisis has affected human lives, and interests parallelly destroyed the entire economic structure. The Government of New York had already predicted the crisis that the state will face due to the positive cases and treatment of each person. Already the crisis due to coronavirus has been on alert for the US and also globally. The upcoming medical shortage and economy have led the US government to seek funds to stabilize the present situation of the country.
Coronavirus crisis has been responsible for the downfall of New York State, leading to the highest cases of positive cases. Westchester County has the highest positive cases, and New Rochelle is the epicenter. The first positive case of a man professionally a lawyer who was hospitalized is now no longer on a ventilator. The entire New Rochelle area was containment area. Gatherings were not allowed, and shops to remain open as it is part of essential business.
But due to recent increase and the uncontrollable situation could require a lockdown in all over the US country, for a few weeks. The authorities have allocated $500 billion to tackle the coronavirus crisis for the partial recovery of the economic condition. Trump called for an emergency lockdown of the US following India. India started with a single day of Janata curfew and after a strong response, it has declared a lockdown of 21 days.
Financial Aid of $2 billion Never before in American History
This is not only a large amount but the highest amount in American history, to provide the financial aid of $2 billion in the US-based on coronavirus crisis. Senate Majority Leader Mitch Mc Connell, in his statements on early Wednesday, stated that “This is a wartime level of investment into our nation”. House Speaker Nancy Pelosi stated that she is optimistic about the legislation.
The amount allotted will help the American’s family to overcome hard times to fight the present unexpected financial crisis. The economic support decision was after a late-night debate. The Republicans had blamed the Democrats for the hard situation while they are in desperate requirement of the economic aid.
Quick Release of the Fund By White House
Major areas of the US, including New York, California, and Illinois, are lockdown. This is due to the high cases of coronavirus cases. In order to fight the coronavirus crisis, the White House seeks to earliest passing of the bill. The passing of the Bill will support not only the economy of the Americans but also it is majorly required for the treatment of the Americans suffering from the epidemic. The situation worsened so far that lockdown in the three states has forced 70 millions of people to stay home.
The lawmakers of the entire country are facing the recession due to the economic deterioration, and a single objection of the party would have led to slow down the processing for the economic aid.
A certain amount of the bill will be allotted to unemployment insurance, loans to a large number of small and large businesses. A certain additional amount is allotted for the health care providers, as the sector is recently to face the medical shortages in upcoming days. Major affected areas such as New York, Illinois, and California are suffering the coronavirus crisis, and it has become critical to overcoming the situation without the economical aids.