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COVID-19 - Americans To Get $1,200 Each + $500 Per Child As Financial Stimulus Package


The United States (US) President, Donald Trump has signed a $2.2 trillion (N827 trillion) financial stimulus package to suppress the economic effects of the coronavirus pandemic in the United States.

It was gathered that, the U.S. is currently the epicenter of the COVID-19 infections, recording no fewer than 99,000 cases.

According to the law, the government will make direct payments totalling $290 billion (N109 trillion) to Americans earning below $99,000 (N37 million) per annum.

They are expected to get directly get up to $1,200 (N451,000) each, in addition to $500 (N188,000) per child.

The stimulus package also includes the payment of another $260 billion (N97 trillion) to jobless and laid-off workers for up to four months.

While small businesses with less than 500 employees and airlines will get a sum of $881 billion (N331 trillion) as soft loans to reduce the economic effect of the novel virus.

Trump in a short remarks, after the signing at the White House in Washington, appreciated “Democrats and Republicans for coming together and putting America first”.

He said the package would pave way for economic recovery in the U.S., and he added that the country would have “a tremendous rebound’’.

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