The U.S. has approved a $3 trillion voting procedure to support the economy

12 months ago

The U.S. House of Representatives approved the voting procedure for the bill to allocate an additional $3 trillion to support the economy in the wake of the coronavirus pandemic. This was reported by Reuters on Friday, May 15

The proposed voting format, which would limit the debate on the bill, was supported by 207 congressmen against 199. This is expected to pave the way for the adoption of the document, since the Democratic Party has a majority in the House.

However, the Coronavirus Financial Assistance Bill faces opposition in the Republican-controlled Senate and the White House.

The fact that the Democrats have prepared a new package of measures to stimulate the U.S. economy, worth more than $3 trillion, became known a few days ago. In particular, the project provides for additional financing of federal and regional state authorities in the amount of about $1 trillion.

On April 22 it became known that more than 40% of Americans lost their jobs or faced wage cuts due to the economic crisis amidst the Coronavirus pandemic.

In turn, a few weeks before that, analysts predicted that U.S. GDP in the second quarter of 2020 will fall by 25% in annual terms, which will be the biggest decline in the history of the country.

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