#Relief

.Washington D.C., DC, USA
US President Joe Biden was speaking at a virtual summit organised by US Department of Education. (Photo Credit: AFP File)

  • The $81 billion were taken out of the recently approved American Rescue Plan
  • The fund will be used for buying PPE kits and ensuring health safety in schools
  • Safe re-opening of schools were one of the top priorities of the Biden administration

.Washington D.C., DC, USA
Federal Reserve Chairman Jerome Powell made the statements on Wednesday (Photo Credit: AFP)

  • A 2% boost for the economy was implied by the Federal Reserve
  • The new numbers reflect the impact of Biden's stimulus package
  • Powell promised Fed's support for economic recovery of the US

.Washington D.C., DC, USA
Joe Biden signed the COVID stimulus bill earlier in the week.(Photo Credit: Twitter/@JoeBiden)

  • Processing of the first batch of stimulus payments began on Friday, Treasury department official said
  • The payments, in tune of $1,400 per person, were included in the $1.9 trillion COVID-19 relief package
  • The White House had said on Thursday that payments would go out as soon as this weekend

.Washington D.C., DC, USA
The legislation includes stimulus funds for households and extension of unemployment benefits. (Photo Credits: Representational Image/Unsplash)

  • US President Joe Biden signed the eagerly-anticipated economic relief package earlier
  • The legislation has sparked 'fear of missing out' on equity gains among investors
  • Economists fear a big jump in inflation

.Washington D.C., DC, USA
US President Joe Biden has pushed for early approval for his $1.9 trillion COVID-19 relief bill on multiple instances. (Photo Credit: AFP)

  • The bill was earlier scheduled for the Presidential approval on Friday
  • The bill arrived at the White House on Wednesday night
  • While signing the bill, Biden was accompained by Vice President Kamala Harris 

.Washington D.C., DC, USA
US President Joe Biden has been advocating for the relief bill since his term began in January 2021 (Photo credit: AFP)

After getting the final legislative approval in the US House of Representatives on Wednesday, US President Joe Biden followed up by signing the bill on Thursday.

.Washington D.C., DC, USA
US President Joe Biden and Vice President Kamala Harris have been lobbying for the stimulus package since the start of their term (Photo Credit: AP / PTI)

  • US President Joe Biden tweeted, "Help is here"
  • VP Kamala Harris wrote Biden "challenged every member of our Administration" to get the bill passed
  • Representative Cortez also explained the benefits of the bill on Twitter

.Washington D.C., DC, USA
Jared Golden represents the second district of Maine in the House of Representatives (Photo Credit: Twitter/@RepGolden)

  • The democrat representative said he did not vote for the bill due to the amendments made in the Senate
  • Golden said he supports the efforts made by the upper house regarding stimulus cheques
  • The bill finally passed with a 220-211 voting outcome

.Washington D.C., DC, USA
US President Joe Biden has pushed for early approval for his $1.9 trillion COVID-19 relief bill. (AFP Photo)

  • The final vote outcome was 220-211
  • Biden is expected to sign the bill on Friday
  • The US Senate sent the bill back to the House for final approval after various amendments 

.Washington D.C., DC, USA
White House Press Secretary Jen Psaki made the announcements (Photo Credit :AFP)

  • The White House will prioritise the electronic payments as they are faster
  • Bureau of Fiscal Service will be responsible for overlooking the delivery of physical cheques
  • Cheques issued under the Trump administration had his signatures and note with the payments