• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

US House passes $2.2 trillion Democratic coronavirus stimulus bill

5 years ago
in Business, Economy, highlights, Home, home-news, latest News
2 min read
0 0
0
Nancy Pelosi - norvanreports

Nancy Pelosi - norvanreports

55
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

The House passed a $2.2 trillion Democratic coronavirus stimulus plan on Thursday night even as Democrats and the Trump administration struggle to strike a relief deal. 

The chamber approved the legislation in a 214-207 vote. Eighteen Democrats voted against the measure as lawmakers in competitive districts grow wary of the ongoing impasse over aid.

The bill likely will not get through the Republican-held Senate and become law. Senate Majority Leader Mitch McConnell has opposed the legislation as his caucus resists spending trillions more on the federal response to the pandemic. 

The vote followed a Thursday conversation between House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin in which they did not forge an aid agreement but agreed to continue talks.

They failed to bridge a gulf on a range of issues, including how much aid to send state and local governments and whether to establish a liability shield for businesses and schools. 

Earlier in the day, Pelosi downplayed the possibility that talks with Mnuchin this week offered the last, best chance to approve more relief before the November 3 election.

But it is unclear now what could make either side budge, as Democrats call for a sweeping package to boost the economy and health-care system and the GOP worries about injecting too much money into the response.

RelatedPosts

The Perils of Market Interventionism: When Political Pressures Threatens Ghana’s Economic Gains – The Way Forward

GAB Projects Drop in Lending Rates Starting August 6 Following BoG’s 300bps Policy Rate Cut

Local Bourse Rallies Strongly as GSE-CI Hits Near 7,000 Mark

Congress has failed to pass new rescue funds for months as the country reports tens of thousands of new Covid-19 cases per day and massive corporations plan new layoffs and furloughs. 

The $600 per week supplemental unemployment benefit, federal moratorium on evictions and window to apply for Paycheck Protection Program loans set up to provide relief during the outbreak all expired weeks ago.

The Democratic bill would:

  • Reinstate the $600 per week enhanced unemployment benefit through January
  • Send a second $1,200 direct payment to most Americans 
  • Give $436 billion in relief over one year to state and local governments 
  • Authorize more money for a second round of Paycheck Protection Program loans for the hardest-hit businesses and industries 
  • Send $25 billion to airlines to cover payroll costs 
  • Inject $75 billion into Covid-19 testing and contact tracing efforts
  • Put $225 billion into education and $57 billion into child care 
  • Set aside billions for rental and mortgage assistance

Mnuchin countered the Democrats’ plan Wednesday with a $1.6 trillion proposal, NBC News reported. 

It includes $250 billion for state and local government relief, $400 per week in extra unemployment benefits, $150 billion for education, $75 billion for Covid-19 testing and contact tracing, and $60 billion for rental and mortgage assistance, according to NBC. 

Via: norvanreports
Tags: coronavirus stimulus billUS House of Representatives
No Result
View All Result

Highlights

Treasury Exceeds Auction Target of GHS 3.86 Billion Amid Tightening Yields

BoG Raises GHS 15.38 Billion via 56-Day Bills to Reinforce Tight Monetary Policy Stance

Passage of Competition Law Key to Tackling DSTV’s Market Dominance – CUTS International

Why Are Interest Rates Still High? The MPR vs Market Rates Debate

Climate Change Is Making Africa’s Debt Burden Worse – New Debt Contracts Could Help

Nigeria’s EV Market is in Vogue as Foreign Investment Pours in

Trending

Business

The Perils of Market Interventionism: When Political Pressures Threatens Ghana’s Economic Gains – The Way Forward

August 4, 2025

The Perils of Market Interventionism: When Political Pressures Threatens Ghana's Economic Gains - The Way Forward Ghana’s...

GAB Projects Drop in Lending Rates Starting August 6 Following BoG’s 300bps Policy Rate Cut

August 4, 2025

Local Bourse Rallies Strongly as GSE-CI Hits Near 7,000 Mark

August 4, 2025

Treasury Exceeds Auction Target of GHS 3.86 Billion Amid Tightening Yields

August 4, 2025

BoG Raises GHS 15.38 Billion via 56-Day Bills to Reinforce Tight Monetary Policy Stance

August 4, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.