Global RiskNews Briefs

Coronavirus: Congress passes $484bn economic relief bill

Congress has passed a $484 billion COVID-19 relief package, becoming the fourth aid bill to clear Congress pertaining to the pandemic. The relief package is meant to increase the small business aid fund, while funding hospitals and testing throughout the US. President Donald Trump said that he would enact the bill after it was passed unanimously by the Senate on Tuesday. The US currently has over 845,000 confirmed cases of COVID-19 as well as 46,800 deaths.

Last month, the largest economic stimulus package was passed through Congress, making US history with $2 trillion in aid relating to combatting the COVID-19 pandemic. The bill passed on Thursday increases total federal spending on COVID-19 relief up to $3 trillion. This subsequently swells the US budget deficit towards record levels.

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