On Friday, U.S. President Donald Trump signed into law the CARES Act, a massive $2 trillion USD bailout intended to mitigate the economic impacts of COVID-19 on the United States economy.
The legislation will ship payments of up to $1,200 to millions of Americans, bolster unemployment benefits, offer loans, grants and tax breaks to businesses large and small and flush billions more to states, local governments and the nation’s all but overwhelmed health care system.
The House approved the sweeping measure by a voice vote, as strong majorities of both parties lined up behind the most colossal economic relief bill in the nation’s history.
The U.S. now has 85,996 confirmed cases, according to a count kept by Johns Hopkins University. Italy, the U.S. and China account for nearly half the world’s more than 550,000 infections and more than half of the roughly 25,000 reported virus deaths.
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