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Senate approves $2 trillion coronavirus-aid bill, sending measure to House for vote

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The Senate late Wednesday approved a sweeping package designed to cushion the impact of the coronavirus outbreak on Americans, sending the measure to the House of Representatives for a planned vote on Friday.

The bill is worth $2 trillion and would provide $1,200 direct payments to adults making up to $75,000 a year, offer $350 billion in loans to small businesses and set up a $500 billion fund to lend to industries, cities and states. Read text of bill.

Read:What the $2 trillion stimulus means for you — and how to know if you qualify for ‘recovery rebates.’

“Our nation needed us to go big, and go fast,” Senate Majority Leader Mitch McConnell said in Wednesday-morning remarks on the Senate floor.

“Big help, quick help, is on the way,” Senate Minority Leader Chuck Schumer said.

Now see:Schumer emphasizes that coronavirus stimulus package won’t provide aid to Trump family’s businesses

The vote was a unanimous 96-0. Republican Sens. Mike Lee, Rand Paul and Mitt Romney are self-quarantining, and did not vote. Fellow GOP Sen. John Thune is self-monitoring in his home state of South Dakota, his spokesman said, and also missed the vote.

U.S. stocks
SPX,
+1.15%
,
which soared Tuesday on rising expectations for a deal, traded higher on Wednesday afternoon, with the Dow Jones Industrial Average
DJIA,
+2.39%

up nearly 500 points after an up-and-down…



Source

Coronavirus, stimulus measures in focus

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