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Political and Legislative

Senate Approves $2 Trillion Stimulus After Bipartisan Deal

The $2 trillion economic stabilization package agreed to by Congress and the Trump administration early Wednesday morning is the largest of its kind in modern American history, intended to respond to the coronavirus pandemic and provide direct payments and jobless benefits for individuals, money for states and a huge bailout fund for businesses.

The measure, which the Senate approved unanimously just before midnight on Wednesday, amounts to a government aid plan unprecedented in its sheer scope and size, touching on every facet of American life with the goal of salvaging and ultimately reviving a battered economy.

Its cost is hundreds of billions of dollars more than Congress provides for the entire United States federal budget for a single year, outside of social safety net programs. Administration officials said they hoped that its effect on a battered economy would be exponentially greater, as much as $4 trillion.

Read the source article at The New York Times

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