Below is an extract of a post published on Metro titled "US creates £1,700,000,000,000 bailout package to save economy from coronavirus"
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Via: Metro
White House aide Eric Ueland announced the huge bailout package last night (Picture: REX/PA/SIPA) The US government has agreed on a $2 trillion rescue package to keep the economy afloat during the coronavirus pandemic. It will give direct payments to most Americans, expand unemployment benefits and provide a $367 billion (£312 billion) programme for small businesses who are affected by the outbreak. As nations across the world order their citizens to stay inside to prevent the spread of Covid-19, firms across the globe have suffered a devastating loss of footfall, putting their survival in jeopardy. Across the pond in Britain the government announced a series of economic interventions, including covering 80% of at-risk workers’ wages to stop their employers laying them off. The US bailout package includes financial help for hospitals and about $500 billion (£425 billion) for guaranteed loans to larger industries including airlines. White House aide Eric Ueland announced the agreement shortly after midnight local time. An NYPD officer wears a protective face mask in New York (Picture: REX) Firefighters wearing personal protective equipment (PPE) walk away after responding to a call in Seattle, Washington (Picture: Reuters) He said: ‘Ladies and gentlemen, we are done. We have a deal.’ The agreement, which still needs to be finalised in legislative language, comes after days of mounting pressure and intense haggling between Democrats and Republicans over how to soften the blow of Covid-19. Yesterday American officials said more than 50,000 people tested positive for the airborne virus and that at least 600 lives have been lost. Over the previous 24 hours, nearly a third of all new coronavirus cases in the world were in the US, according to the World Health Organization (WHO) which now says America may become the next epicenter for the disease. The virus originated in Wuhan, China, where cases are beginning to fall, giving rise to Europe, particularly Italy as the hub of the pandemic. Times Square is considerably quieter as Americans have been told to stay indoors (Picture: REX) Donald Trump has finally stopped calling Covid-19 ‘the Chinese virus’ (Picture: Getty Images) Hospitals are set to get financial help from the US Government after an aid package was announced (Picture: SIPA USA) US President Donald Trump has been accused of racism for referring to the bug as ‘the Chinese virus’ at press conferences and on Twitter. But on Monday evening he dropped the term and repeatedly referred to it instead as Covid-19. He began the press conference by re-reading tweets he sent on Monday afternoon, saying: ‘It is very important that we totally protect our Asian American community in the United States, and all around the world. ‘They are amazing people, and the spreading of the Virus is NOT their fault in any way, shape, or form. They are working closely with us to get rid of it. WE WILL PREVAIL TOGETHER!’ Around 400,000 people have been infected worldwide and more than 16,300 lives have been lost since the outbreak began in December. Coronavirus latest news and updates Visit our live blog for the latest updates: Coronavirus news live Read all new and breaking stories on our Covid-19 news page Coronavirus symptoms explained Find out the latest on which shops can stay open in a lockdown Who needs to go to work, who needs to stay at home and who is classed as a key worker?
