US Senate approves $ 1.9 trillion economic bailout plan

The U.S. Senate has approved a $ 1.9 trillion economic bailout package aimed at tackling the fallout from the COVID-19 pandemic. Reported by CBS News .

The Upper House of Congress of the 117th convocation includes 50 representatives of the Republican Party and 48 representatives of the Democratic Party. Two senators were elected as independents, although they entered into a coalition with the Democrats.

The latter unanimously supported the plan. 49 Republicans opposed, one was absent during the vote. The final consideration of the bill in the House of Representatives will take place on Tuesday, March 9.

The measures proposed by US President Joe Biden provide for the payment of $ 1,400 to citizens with a salary of less than $ 75,000 a year. Another provision extends the unemployed support plan until September.

The rest of the funds will be directed to state and district governments, schools, businesses, as well as expanding coronavirus testing and vaccination programs.

Representatives of the Republican Party proposed to cut the support package to $ 600 billion. In their opinion, most of the money will be spent on solving problems not related to economic recovery. Biden did not agree with the initiative .

“The bottom line is this: this plan puts us on the path to fighting this virus. It gives those families in greatest difficulty the help and respite they need […] This plan gives small businesses in the country a chance to survive, ”the president said.

Earlier , the head of the US Treasury, Janet Yellen, supported Biden’s package . In November 2020, Morgan Creek Digital co-founder Anthony Pompliano called her possible appointment ” good news for bitcoin, ” pointing out that the official’s stance on investment in the economy suggests high inflation is coming.

According to CoinDesk , the approval of incentive measures could drive up the value of cryptocurrencies, especially if recipients use the money to buy digital assets.

Past incentive checks for $ 1200 and $ 600, assuming their investment in Bitcoin, are valued at over $ 10,000 at the time of writing.

Recall that in February, Yellen named the first cryptocurrency with a speculative asset , against the background of which digital gold dropped to $ 47,500 at the moment .

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