ohmrlobalobayeh
SENIOR MEMBER
- Joined
- Mar 24, 2012
- Messages
- 3,388
- Reaction score
- -23
- Country
- Location
The US passed passed a 2.2 trillion coronavirus bill aid package- question is- where is the money coming from?
i have never seen info regarding 'US reserves'- considering she is a debtor nation and borrows on almost everything, financially.
Historic $2.2 trillion coronavirus bill passes U.S. House, becomes law
House Speaker Pelosi holds coronavirus aid bill signing ceremony at the U.S. Capitol in Washington
By David Morgan and Susan Cornwell
WASHINGTON (Reuters) - The U.S. House of Representatives on Friday approved a $2.2 trillion aid package - the largest in history - to help cope with the economic downturn inflicted by the intensifying coronavirus pandemic, and President Donald Trump quickly signed it into law.
The massive bill passed the Senate and House of Representatives nearly unanimously. The rare bipartisan action underscored how seriously Republican and Democratic lawmakers are taking the global pandemic that has killed more than 1,500 Americans and shaken the nation's medical system.
"Our nation faces an economic and health emergency of historic proportions due to the coronavirus pandemic, the worst pandemic in over 100 years," House Speaker Nancy Pelosi said at the close of a three-hour debate before the lower chamber approved the bill. "Whatever we do next, right now we're going to pass this legislation."
The massive bill also rushes billions of dollars to medical providers on the front lines of the outbreak.
But the bipartisan spirit seemed to end at the White House. Neither Pelosi nor Senate Democratic Leader Chuck Schumer was invited to Trump's all-Republican signing ceremony for the bill, aides said.
Their Republican counterparts, House Minority Leader Kevin McCarthy and Senate Majority Leader Mitch McConnell, did attend, along with three Republican House members.
"This will deliver urgently needed relief to our nation's families, workers and businesses," Trump said. "I really think in a fairly short period of time ... we'll be stronger than ever."
In an statement about signing the bill, Trump rejected aspects of a provision in the law setting up an inspector general to audit some loans and investments.
Asked about the statement, Pelosi told MSNBC: "Congress will exercise its oversight and we will have our panel ... appointed by the House, in real time to make sure we know where those funds are being expended."
She called Trump a "dangerous president" who had chosen to ignore the threat of the coronavirus.
"Our next thrust will be about recovery and how we can create good-paying jobs so that we can take the country into the future in a very strong way," Pelosi said.
The Democratic-led House approved the package on a voice vote, turning back a procedural challenge from Republican Representative Thomas Massie, who had sought to force a formal, recorded vote.
To keep Massie's gambit from delaying the bill's passage, hundreds of lawmakers from both parties returned to Washington despite the risk of contracting coronavirus. For many, that meant long drives or overnight flights.
One member who spent hours in a car was Republican Representative Greg Pence, the brother of Vice President Mike Pence, whom Trump has put in charge of efforts to handle the coronavirus crisis.
Pence drove the nearly 600 miles (966 km) from his home state, Indiana, to Washington on Thursday. "We can't afford to wait another minute," he said on Twitter.
'THIRD-RATE GRANDSTANDER'
Massie wrote on Twitter that he thought the bill contained too much extraneous spending and gave too much power to the Federal Reserve, the U.S. central bank. His fellow lawmakers overruled his request for a recorded vote.
Trump attacked Massie on Twitter, calling him a "third rate Grandstander" and saying he should be thrown out of the Republican party. "He just wants the publicity," wrote the president, who last week began pushing for urgent action on coronavirus after long downplaying the risk.
Democratic and Republican leaders had asked members to return to Washington to ensure there would be enough present to head off Massie's gambit. The session was held under special rules to limit the spread of the disease among members.
At least five members of Congress have tested positive for the coronavirus and more than two dozen have self-quarantined to limit its spread.
The Senate, which approved the bill in a unanimous vote late on Wednesday, has adjourned and is not scheduled to return to Washington until April 20.
Democratic and Republican House leaders appeared together at a news conference at the Capitol to celebrate the bill's passage - an unusual event for a chamber that is normally sharply divided along partisan lines.
"The virus is here. We did not ask for it, we did not invite it. We did not choose it. But with the passing of the bill you will see that we will fight it together, and we will win together," McCarthy said.
He did not say whether Massie would face any disciplinary measures from the party.
The rescue package is the largest fiscal relief measure ever passed by Congress.
The $2.2 trillion measure includes $500 billion to help hard-hit industries and $290 billion for payments of up to $3,000 to millions of families.
It will also provide $350 billion for small-business loans, $250 billion for expanded unemployment aid and at least $100 billion for hospitals and related health systems.
The number of coronavirus cases in the United States exceeded 100,000 on Friday, according to a Reuters tally, the most of any country.
Adding to the misery, the Labor Department reported the number of Americans filing claims for unemployment benefits surged to 3.28 million, the highest level ever.
i have never seen info regarding 'US reserves'- considering she is a debtor nation and borrows on almost everything, financially.
Historic $2.2 trillion coronavirus bill passes U.S. House, becomes law
House Speaker Pelosi holds coronavirus aid bill signing ceremony at the U.S. Capitol in Washington
By David Morgan and Susan Cornwell
WASHINGTON (Reuters) - The U.S. House of Representatives on Friday approved a $2.2 trillion aid package - the largest in history - to help cope with the economic downturn inflicted by the intensifying coronavirus pandemic, and President Donald Trump quickly signed it into law.
The massive bill passed the Senate and House of Representatives nearly unanimously. The rare bipartisan action underscored how seriously Republican and Democratic lawmakers are taking the global pandemic that has killed more than 1,500 Americans and shaken the nation's medical system.
"Our nation faces an economic and health emergency of historic proportions due to the coronavirus pandemic, the worst pandemic in over 100 years," House Speaker Nancy Pelosi said at the close of a three-hour debate before the lower chamber approved the bill. "Whatever we do next, right now we're going to pass this legislation."
The massive bill also rushes billions of dollars to medical providers on the front lines of the outbreak.
But the bipartisan spirit seemed to end at the White House. Neither Pelosi nor Senate Democratic Leader Chuck Schumer was invited to Trump's all-Republican signing ceremony for the bill, aides said.
Their Republican counterparts, House Minority Leader Kevin McCarthy and Senate Majority Leader Mitch McConnell, did attend, along with three Republican House members.
"This will deliver urgently needed relief to our nation's families, workers and businesses," Trump said. "I really think in a fairly short period of time ... we'll be stronger than ever."
In an statement about signing the bill, Trump rejected aspects of a provision in the law setting up an inspector general to audit some loans and investments.
Asked about the statement, Pelosi told MSNBC: "Congress will exercise its oversight and we will have our panel ... appointed by the House, in real time to make sure we know where those funds are being expended."
She called Trump a "dangerous president" who had chosen to ignore the threat of the coronavirus.
"Our next thrust will be about recovery and how we can create good-paying jobs so that we can take the country into the future in a very strong way," Pelosi said.
The Democratic-led House approved the package on a voice vote, turning back a procedural challenge from Republican Representative Thomas Massie, who had sought to force a formal, recorded vote.
To keep Massie's gambit from delaying the bill's passage, hundreds of lawmakers from both parties returned to Washington despite the risk of contracting coronavirus. For many, that meant long drives or overnight flights.
One member who spent hours in a car was Republican Representative Greg Pence, the brother of Vice President Mike Pence, whom Trump has put in charge of efforts to handle the coronavirus crisis.
Pence drove the nearly 600 miles (966 km) from his home state, Indiana, to Washington on Thursday. "We can't afford to wait another minute," he said on Twitter.
'THIRD-RATE GRANDSTANDER'
Massie wrote on Twitter that he thought the bill contained too much extraneous spending and gave too much power to the Federal Reserve, the U.S. central bank. His fellow lawmakers overruled his request for a recorded vote.
Trump attacked Massie on Twitter, calling him a "third rate Grandstander" and saying he should be thrown out of the Republican party. "He just wants the publicity," wrote the president, who last week began pushing for urgent action on coronavirus after long downplaying the risk.
Democratic and Republican leaders had asked members to return to Washington to ensure there would be enough present to head off Massie's gambit. The session was held under special rules to limit the spread of the disease among members.
At least five members of Congress have tested positive for the coronavirus and more than two dozen have self-quarantined to limit its spread.
The Senate, which approved the bill in a unanimous vote late on Wednesday, has adjourned and is not scheduled to return to Washington until April 20.
Democratic and Republican House leaders appeared together at a news conference at the Capitol to celebrate the bill's passage - an unusual event for a chamber that is normally sharply divided along partisan lines.
"The virus is here. We did not ask for it, we did not invite it. We did not choose it. But with the passing of the bill you will see that we will fight it together, and we will win together," McCarthy said.
He did not say whether Massie would face any disciplinary measures from the party.
The rescue package is the largest fiscal relief measure ever passed by Congress.
The $2.2 trillion measure includes $500 billion to help hard-hit industries and $290 billion for payments of up to $3,000 to millions of families.
It will also provide $350 billion for small-business loans, $250 billion for expanded unemployment aid and at least $100 billion for hospitals and related health systems.
The number of coronavirus cases in the United States exceeded 100,000 on Friday, according to a Reuters tally, the most of any country.
Adding to the misery, the Labor Department reported the number of Americans filing claims for unemployment benefits surged to 3.28 million, the highest level ever.
