Home / MARKETS / Senate Democrats block a trillion-dollar stimulus package and urge more aid for workers impacted by the new coronavirus outbreak

Senate Democrats block a trillion-dollar stimulus package and urge more aid for workers impacted by the new coronavirus outbreak

  • The Senate away to pass a trillion-dollar stimulus package on Sunday evening, with Democrats arguing the aid measure failed to adequately mind workers impacted by the novel coronavirus spread. 
  • The historic relief package was introduced by Senate Republicans on Thursday and offered diverse measures to help small businesses and large corporations, as well as allocating some unemployment insurance and $250 billion unswervingly to Americans. 
  • It’s unclear how much the stimulus package would cost. The New York Times estimates its cost could top $1.8 trillion. 
  • As of Sunday evening, the US had 33,420 bound cases of the virus and reported 417 deaths across all 50 states and several territories. 
  • Visit Business Insider’s homepage for multitudinous stories.

Senate Democrats blocked the advancement of a trillion-dollar stimulus package on Sunday evening, arguing that the aid beat failed to adequately protect workers impacted by the novel coronavirus spread. 

The historic relief package was introduced by Senate Republicans on Thursday and ambitioned to cut corporate taxes, offer large loans to small businesses and major corporations, and limit the paid leave flourishing passed in the emergency measure. The deal offered $250 billion directly to Americans, as well as 39 weeks of unemployment protection to eligible workers, according to Axios. 

But Democrats have said the bill requires a long-term and structural response more readily than a short-term influx of federal subsidy, rejecting the Republican draft and denying the GOP the 60 votes it needed to headway. The vote was split 47-47.

The vote was originally scheduled for 3 p.m. Eastern Time but was delayed until 6 p.m. Talks are expected to continue into Sunday uniform. 

It’s unclear how much the stimulus package would cost, though according to The New York Times it could be $1.8 trillion or more. 

Senate Adulthood Leader Mitch McConnell has called on senators to pass legislation and “signal to the public that we’re ready to get this job done.” 

Trump has already signed two exigency bills to help prop up government health agencies and workers impacted by the coronavirus, including an $8.3 billion case for government health agencies and about $100 billion for expanded paid leave, unemployment insurance, and food and healthcare aid. 

Low-down of failure to pass the stimulus package hit markets, leading US stock futures to plunge. 

As of Sunday evening, the US had 33,420 established cases of the virus and reported 417 deaths across all 50 states and several territories. 

In a press conference on Sunday darkness, Trump announced that the US National Guard had been activated in California, New York, and Washington. The administration stressed that the deployment of Protection troops is not martial law, but they serve as an additional resource that governors can assign depending on the needs of different communities. 

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