US President Joe Biden Signs $ 1.9 Trillion Kovid Relief Bill into Law

US President Joe Biden Signs $ 1.9 Trillion Kovid Relief Bill into Law

Washington: US President Joe Biden has signed a $ 1.9 billion Kovid-19 relief bill after weeks of partisan fighting in Congress, assuming office since Biden’s first legislative victory.
The vote was signed on Thursday, a day after the House of Representatives approved the measure in a partisan vote of 220-211. Last week, the equally divided Senate reduced the bill by a vote of 50 to 49, as reported by Xinhua.
Meanwhile, a recently released survey by the Pew Research Center showed that there is widespread public support for the relief package, with 70% of Americans saying they favor the law.
Geoffrey Sachs, a professor of economics at Columbia University and senior adviser to the United Nations, told Xinhua on Wednesday, “America in Congress is more polarized than the American people.”
“The American people really have a broad consensus, let’s go with our lives. The epidemic is under control. Let’s have an increased role of government, but the political divide between Democrats and Republicans is very strong,” said Sachin.
Measures, including legislation related to the sixth coronavirus after the outbreak for more than a year, funding for Kovid-19 vaccination and testing, additional unemployment benefits, direct payments to working Americans, support for small businesses, state and local governments Huh. school.
Calling it a landmark law with overwhelming support from Americans, Biden said in the White House Oval Office that the bill would help rebuild “the backbone of this country.”
The hours came after the bill was signed by the Labor Department to reduce initial unemployment claims from 42,000 last week to 712,000.
Meanwhile, the total number of people claiming benefits in all programs – state and federal combined – increased from 2 million to 20.1 million for the week ending on February 20 due to continued disruptions in the labor market by the Kovid-19 epidemic. Is the signal.
The relief bill includes a $ 300 weekly federal unemployment benefit through September, instead of $ 400 in a prior version approved by the House. It also includes a new round of direct payments for Americans up to $ 1,400.
Despite the strong support from Democratic lawmakers, the bill may be a little disappointing for some progressivists, who advocated raising the federal minimum wage to $ 15 per hour, a provision that was not included in the final package.
President Biden, as well as Treasury Secretary Janet Yellen, have argued that bold action is needed to support the economic recovery and avoid a permanent trail. However, some economists have warned that the new relief package could be too large, and bring risks, such as easing inflationary pressures and reducing global financial stability.

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