With the number of affected persons in the United states of America skyrocketing between 60,653 confirmed cases, and death toll counts hanging between 819 and more, it is of no doubt that the coronavirus has broken chaos and grief in most countries across the world.

In the face of this grim situation, it is no longer fascinating news that the world’s death toll record is fast approaching 21,000, while the worldwide cases roughly hits 50,000 individuals.

At this point, it is safe to say that Mother earth is heaving for relief as several countries around the world are making efforts to brace through this unexpected crisis. With the sporadic rise of the spread of the virus in Italy, who has since taken over from spain with a record of 74,386 recorded cases,making italy the world hardest-hit country as the cases of the infection has continued to rise, many health workers complain that they do not have enough equipments and resources to save themselves, and protect other patients.

Despite this pandemonium, there is a beacon of hope, as help may soon be on the way for the American citizens and economy which has been set reeling from the impact of the coronavirus, as the U.S senate agrees to the $2 trillion stimulus package – the largest in the history of America.

On Wednesday, the $2 trillion aid bill was unanimously voted by the senate, to boost up the US economy as it cradles with the impact of the coronavirus thereby advancing the largest fiscal stimulus package in modern American history.

The bill is to be signed officially on Friday, as it’ll be passed to President Trump for his signature.

Here’s everything you need to know about the bill.

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How is The Package to Be Distributed?

According to the new York times,after a thorough negotiation with republicans, Democrats, and the white house, the decision was reached that;

“The legislation would send direct payments of $1,200 to Americans earning up to $75,000 — which would gradually phase out for higher earners and end for those with incomes more than $99,000 — and an additional $500 per child. It would substantially expand jobless aid, providing an additional 13 weeks and a four-month enhancement of benefits, extending them for the first time to freelancers and gig workers, and adding $600 per week on top of the usual payment.

The measure would also provide $350 billion in federally guaranteed loans to small businesses and establish a $500 billion government lending program for distressed companies reeling from the crisis, allowing the administration to take equity stakes in airlines that received aid to help compensate taxpayers. It would also send $100 billion to hospitals on the front lines of the pandemic”

The Washington post also confirms that by thursday 26 of march 2020, the new weekly tally of unemployed individuals due for the unemployment benefits will be out, as more than a million people have filled in for it.

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How Much will Every American Get?

The government will by the plan stated above, offer American individuals earning up to $75,000 with $1,200 to bolster their finances, plus $500 extra per child.

The health care system will not also be overlooked as more than a 100 billion dollars will be reserved for the nation’s healthcare providers, nurses, physicians, nursing homes, hospitals, and community health centres.

How long Before it Gets to Everyday Americans?

Trump had said in a press statement that the loan is bound to exonerate the US economy quickly, as soon as the Virus is defeated. By this, the president has shown commendable urgency and interest to sign the bill, and get the relief package running as soon as possible. But first, Treasury secretary Steven Mnuchin announces that the money is bound to arrive for every American within three weeks.

Will it Save People from Losing Their Jobs?

The bill is designed to bring massive relief to workers, business, hospitals, and staff governments, as well as those who have lost their jobs.

While the statistics may still be vague, the bill will provide loans worth $350 billion to small businesses, and a $500 billion funding to distressed companies. Thereby reducing the rate of job loss, and unemployment.

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