Foreign NewsNews

Trump allocates almost $500 billion to support the US economy

US President Donald trump on Friday, April 24, signed a bill on financial assistance to the American economy in the amount of almost half a trillion dollars to combat the coronavirus and its consequences.

In particular, this money will be used for small business lending programs and additional funds will be provided to medical institutions. The document has already been supported by senators this week.


In total, about $484 billion will be distributed. $320 billion will be allocated to the salary protection Program, which was adopted at the end of last month, but has already exhausted all its resources due to high demand amid the pandemic.


In addition, the bill provides $75 billion for hospitals and health care providers and $25 billion to expand the coronavirus testing program.

Journalists note that although the bill is almost half a trillion dollars, both sides call it “temporary”, designed to bridge the gap between the law in the form of $2 trillion in aid and the next expanded block of financial support.


A few days ago, it became known that more than 40% of Americans lost their jobs or faced wage cuts due to the economic crisis amid the coronavirus pandemic.


In turn, analysts predicted that US GDP in the second quarter of 2020 will fall by 25% in annual terms, which will be the strongest decline in the country’s history.

Since April 11, a major disaster has been in effect throughout the United States

US President Donald trump has also proposed an original way to fight the coronavirus. At a white house briefing, he told reporters that the coronavirus instantly dies from direct sunlight.

“If you can deliver light inside the body, through the skin or otherwise, it destroys it in a minute, “trump was quoted as saying by RIA Novosti.


According to Worldometer data on April 24, 903,2 thousand cases of coronavirus infection were registered in the United States, 50.9 thousand people died, and 90,2 thousand patients recovered.

Admin

AJAYI Temitope Samuel, A blogger by profession for the past 5 years. He studied Political Science at the Ekiti State University, Ado Ekiti, Contact: +2348137451665 Twitter: @iamtemitopesam,

Leave a Reply

Your email address will not be published.

CommentLuv badge

Back to top button
Close
Close