(C) Reuters. Speaker of the House Pelosi speaks to news reporters ahead of a vote on the coronavirus relief bill on Capitol Hill in Washington
By Richard Cowan and Patricia Zengerle
WASHINGTON (Reuters) – The U.S. Senate’s unanimous passage of a $2 trillion coronavirus relief bill sent the unprecedented economic legislation to the House of Representatives, whose Democratic leaders hope to pass it on Friday.
The Republican-led Senate approved the massive bill – which would be the largest fiscal stimulus measure ever passed by Congress – by 96 votes to none late on Wednesday, overcoming bitter partisan negotiations and boosting its chances of passing the Democratic-majority House.
The unanimous vote, a rare departure from bitter partisanship in Washington, underscored how seriously members of Congress are taking the global pandemic as Americans suffer and the medical system reels.
“When there’s a crisis of this magnitude, the private sector cannot solve it,” said Senate Democratic Leader Chuck Schumer.
“Individuals even with bravery and valor are not powerful enough to beat it back. Government is the only force large enough to staunch the bleeding and begin the healing.”
The package is intended to flood the country with cash in a bid to stem the crushing impact on the economy of an intensifying epidemic that has killed more than 900 people in the United States and infected at least 60,000.
It follows two others that became law this month. The money at stake amounts to nearly half of the total $4.7 trillion the U.S. government spends annually.
Republican President Donald Trump, who has promised to sign the bill as soon as it passes the House, expressed his delight on Twitter. “96-0 in the United States Senate. Congratulations AMERICA!” he wrote.
Only two other nations, China and Italy, have more coronavirus cases than the United States. The World Health Organization has warned the United States looks set to become the epicenter of the pandemic.
The House’s Democratic leaders announced that they would have a voice vote on Friday. Speaker Nancy Pelosi said she backed the bill, and was open to passing more legislation if needed to address the crisis in future.
The House Republican leadership is recommending a “yes” vote.
The massive bill, worth more than $2 trillion, includes a $500 billion fund to help hard-hit industries and a comparable amount for direct payments of up to $3,000 apiece to millions of families.
The legislation will also provide $350 billion for small-business loans, $250 billion for expanded unemployment aid and at least $100 billion for hospitals and related health systems.
There had been some debate about whether all 430 House members, most of whom have been out of Washington since March 14, would have to return to consider the bill. That would have been difficult, given that at least two have tested positive for coronavirus, a handful of others are in self-quarantine and several states have issued stay-at-home orders.
There are five vacant House seats.
After Senate vote, massive U.S. coronavirus bill moves to the House
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.