After the US congress approves the Covid-19, the president has signed the bill into law. The Treasury Department has promised to start issuing checks by Monday.
President Biden signs stimulus bill into law
President Joe Biden is on the rise at the moment after securing a huge legislative victory after getting approval on Wednesday along party lines. The president has today, signed into law the COVID-19 bill at the White House. The date is significant as it marks a year since the pandemic started in America.
"This bill is a huge milestone because it is about our nation's economy.'' President Biden said before endorsing the bill.
The coronavirus bill contains items like a contribution of $1,400 into millions of householders and funds given to local governments and businesses to help them bounce back. The onus is now on the US treasury sector to start issuing such checks very soon.
President Biden will give a speech on Friday morning to discuss losses incurred during the pandemic and given assurances to Americans about the way forward. President Biden has told people not to be careless due to the vaccine but to remain cautious till the storm is over.
Many Americans have suffered economic-wise due to coronavirus
Over the last 11 months, more than 520,000 Americans have lost their lives, with millions of businesses going under, however, there is renewed hope since the vaccination started. He promised to address the nation about the economic benefits of the bill and how his economic team hopes to turn around the country.
This bill has been a very contentious document because virtually all Republicans opposed it during the vote. The issue according to the Republicans is that it is very expensive, and they want major aspects of the bill to be reduced, however, democrats believe only a huge stimulus bill can help turn the economy around.