Tuesday, October 19

Donald Trump agrees to extend government funds 24 hours to avoid its closure


Monday, December 21, 2020 – 06:14

20 minutes before midnight, the deadline for the closing of the Administration, Trump signed a law passed by both houses of Congress

USA

File photo of a sign with the word “resist” at the White House.
AFP

The outgoing president of the United States, Donald Trump, you have agreed to extend for 24 hours the funds of the Federal Administration to avoid its closure, which could have occurred this midnight due to lack of financing.

20 minutes before midnight, deadline for the closure of the Administration, Trump signed a law passed by both houses of Congress.

The measure allows extending until midnight from Monday to Tuesday the deadline to avoid the closure of the Administration while, in parallel, the two parties specify the details of a stimulus package aimed at mitigating the effects of the pandemic in the economy.

This extension of federal funds It is the fourth since September, when funding for fiscal year 2020 expired.

On Friday, Congress already decided to extend funding for two days to give Democrats and Republicans more time to reach an agreement on the stimulus package.

That rescue plan is included in a 1.4 billion dollars (1,148 million euros) destined to finance the Administration until September 2021, so the fate of both initiatives is intrinsically linked.

THE FED’S BORROWING CAPACITY, THE BIGGEST OBSTACLE

During this weekend, both sides managed to remove one of the main obstacles in the negotiations: a Republican proposal to restrict the emergency borrowing capacity of the Federal Reserve (Fed), something that Democrats fear could constrain the future government of the president-elect, Joe Biden.

The stimulus package include direct payments of $ 600($ 492) for all those individuals who have an income of less than $ 75,000 per year (€ 61,525 per year), a measure similar to that of the previous aid package, approved in March and in which those payments amount to $ 1,200 per person (984 euros).

Adems, se darn $ 300 a week to each person (246 euros) who is unemployed, a benefit that is in addition to the one already granted by the states, the Democratic leaders in Congress, Nancy Pelosi and Chuck Schumer, detailed this Sunday in a statement.

The legislation will also include an item of $ 284 billion (232,976 million euros) for loans for small businesses and another 82,000 million (67,267 million euros) for schools and universities, as well as billions of dollars to help local entities distribute vaccines against the Covid-19.

Trump, who has left the negotiations in the hands of Congress, complained on Sunday that an agreement had not yet been reached after months of negotiations and insisted on blaming China for the virus, something that has no basis.

Why hasn’t Congress given our people a stimulus package? It wasn’t his fault, it was China’s fault. DO IT, and give more money in direct payments, “he said on Twitter.

Congress hasn’t passed any stimulus measures since March, when it gave the go-ahead to a rescue plan of more than 2 trillion dollars, the largest in the history of the United States.

Since the first cases were detected in the US 11 months ago, the Covid-19 more than 317,009 people have died, while 17.8 million have been infected with the virus, more than in any other country in the world in absolute terms, according to Johns Hopkins University.

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