In the United States, a new stimulus package worth about $2.4 trillion is being planned, with a second round of stimulus checks for Americans. Talks of more relief assistance have failed since the first coronavirus stimulus package was enacted into law. This latest plan seeks to revive the debate of the stimulus package.
After the $2.2 trillion stimulus bill was signed into law, U.S. lawmakers debated another stimulus assistance program, but Democrats and Republicans did not agree about how much additional assistance is needed to tackle the coronavirus-led economic downturn.
In May, the House passed the $3.4 trillion HEROES Act, but talks on the bill failed in the Senate, and both parties criticized each other. Senate Majority Leader Mitch McConnell (R-Ky.) accused House Speaker Nancy Pelosi of exploiting existing economic difficulties to force Trump and the Republican Senate to negotiate a bargain, Politico added. However, the Senate Minority Leader Chuck Schumer (D-N.Y.) reported that the White House and the top Senate Republicans declined to compromise because the package cost more than the Trump administration was able to consider.
Source: Bitcoin.com
