The House is all set to pass a package of $484 billion as the pandemic relief fund this Thursday. As the issues regarding the interim bill have been straightened out, the Trump administration has now set its eyes on the US economy. They have been trying to formulate a plan to kick-start it.
The next round of legislation to be taken up by the House has already been passed by the Senate this Tuesday. It would include a $320 billion package to support the struggling small businesses and to ensure that their employees stay on the payroll.
According to President Trump, the fourth phase of stimulus would include aids to both states as well as local governments. Funds would also be allocated towards road projects and the expansion of broadband services.
In a White House briefing, Trump announced his intention of rebuilding the economy.
Steven Mnuchin, the Treasury Secretary, hasn’t yet revealed the amount of the package. New York Governor Cuomo and other governors have demanded a package of $500 billion solely for state aid.
The increasing demand for more economic support is going to put America under considerable debt.