This archive report was first published on 16 May 2020.
On May 15, 2020, the US House of Representatives passed a massive $3 trillion economic rescue package aimed at mitigating the devastating impact of the coronavirus pandemic. The legislation, known as the Heroes Act, cleared the House on a vote of 208 to 199, with 14 Democrats and all but one Republican opposed.
The bill provides $1 trillion for state and local governments, additional cash disbursements to millions of hard-hit American families, funds for hospitals, hazard pay for health workers, and relief for devastated small businesses. It also extends food and unemployment aid, provides rent and mortgage support for struggling households, and pumps billions of dollars into virus testing, tracing operations, and treatment.
House Speaker Nancy Pelosi described the bill as a 'major investment in the lives of the American people and in the budgets of our states and localities.' She emphasized that the legislation aims to lessen the pain for millions of Americans who have lost their jobs due to the pandemic.
However, the bill faces significant opposition in the Senate, where many Republicans have branded it an 'exorbitant liberal wish list' packed with Democratic priorities. Senate leaders have expressed opposition to moving swiftly with a new tranche of relief, saying they prefer more time to study how the previous aid measures have helped American communities.
President Donald Trump has already signed four pandemic relief measures into law, including a $2.2 trillion package in March and a $483 billion measure to pump additional funds into a loan program for hard-hit small businesses. The White House has signaled that it will not support the latest $3 trillion rescue deal, with economic adviser Larry Kudlow stating that 'another $3 trillion package seems off target to me.' He added that 'I don't believe we can spend our way into prosperity.'
