Washington, United States.
He Congress of the United States reached an agreement Saturday night on the role of the Federal Reserve in supporting the economy during the pandemic, the Wall Street Journal reported, paving the way for a vote on a $ 900 billion bailout plan for Americans. .
The agreement would preserve the central bank’s ability to establish itself emergency loan programs without congressional approval, the paper said. But the Fed would need approval to restart existing programs under the Coronavirus Relief, Relief and Economic Security Act (CARES) that went into effect in March, when they expire later this year.
Republicans tried to limit the Fed’s ability to grant credit to corporations and other institutions. They claim that Democrats tried to use the legislation to create a “bribe fund” for the state and local governments they control.
For Democrats, limiting the Fed’s powers could exacerbate the fiscal crisis and hamper the new Biden administration’s ability to boost the struggling US economy.
Can read: Armando Manzanero’s family says his health is improving and denies his death
The disagreement threatened a temporary shutdown of the government, a scenario not unprecedented in a divided Washington but would have been disastrous this year amid the deterioration of the economy and record daily deaths from Covid-19.
According to the Wall Street Journal, Chuck Schumer, leader of the Democratic minority in the Senate, said Congress could vote on the proposal on Sunday.
For his part, a spokesman for the Senate Republican majority leader, Mitch McConnellHe assured the paper that congressmen could now “close the rest of the package to provide the relief that families, workers and businesses so badly need.”
Further: Ortega promotes the law to remove opponents in the next elections in Nicaragua
Before the deal was reported, President Donald Trump tweeted, “Why isn’t Congress giving our people a stimulus bill?”
A plan to support businesses in crisis and the unemployed is considered essential to strengthen the economy that has suffered from the crisis caused by the pandemic.
This should include measures for the distribution and logistics of coronavirus vaccines, as well as additional unemployment benefits of $ 300 a week, and direct checks to families of $ 600, half the amount awarded under the CARES law last March. .