President Donald Trump will sign the $2.2 trillion CCP virus stimulus bill at 4 p.m. on Friday, according to the White House.
The president’s signature will come hours after the House of Representatives passed The Coronavirus Aid, Relief and Economic Security Act (CARES Act), the largest stimulus package in modern American history.
Because the vote wasn’t recorded, it wasn’t clear who voted which way, but the shout-outs sounded resoundingly in favor of the package. Lawmakers across the chamber applauded after the announcement.
Social distancing measures forced members to spread out in the chamber, with some viewing the proceedings from the visitor’s gallery. Others weren’t present, being either in transit to Washington or remaining in their home states.
Both Democratic and Republican leaders said they supported the bill, which originated in the House but underwent changes in the Senate before lawmakers there passed it unanimously on Wednesday night.
Trump on Thursday night told reporters that he was “profoundly grateful that both parties came together to provide relief for American workers and families in this hour of need,” highlighting a number of aspects of the legislation.
The unprecedented $2.2 trillion package stretches across 880 pages and includes one-time payments of $1,200 to any American making less than $75,000 a year and $2,400 to married couples making up to $150,000.
Parents will receive $500 per child.
Individuals or couples making over the limits will still get money, but payments will be reduced by $5 for each $100 over the threshold they make.
The limits are tied to 2019 tax returns or, if they’re not available, 2018 tax returns. People who didn’t file returns can use other forms such as a Social Security Benefit Statement.
The bill also includes funding for some institutions with no direct relation to the outbreak of the CCP virus, including $75 million for the National Foundation on the Arts and the Humanities, $75 million for the National Endowment for Humanities, and $25 million for the J.F. Kennedy Center for the Performing Arts.
The measure also allocates $11 billion for three international development groups: the African Development Fund, the African Development Bank, and the International Development Association.
Trump said on Twitter on March 27 that the bill is “90% GREAT” but that the Republicans “had to give up some stupid things” to the Democrats “in order to get the ‘big picture’ done.”
The United States had over 90,000 confirmed cases of COVID-19 disease as Trump prepared to sign the bill. The CCP virus outbreak had killed 1,475 people in the United States as of March 27.
