6:00: Morning News

Trump signs coronavirus economic package

CHARLESTON, W.Va. — President Donald Trump signed Friday the third coronavirus bill, which includes billions of dollars for individuals as well as economic relief to corporations, a boost to unemployment benefits and enhancing loan capacity for small businesses.

The U.S. House of Representatives approved the $2 trillion Coronavirus Aid, Relief, and Economic Security Act by voice vote earlier in the day. The U.S. Senate passed the legislation late Wednesday.

The bill also includes $150 billion for state and local governments in addition to $100 billion for health care systems.

“This bill will give the health care professionals and researchers on the front lines the resources they need to fight the virus and ultimately develop a vaccine and cure,” Rep. David McKinley, R-W.Va., said.

“The Coronavirus truly is an invisible enemy, and it’s vital that all Americans pull together to come through this difficult time. Today is the third time Congress has acted in response to this crisis. More action will likely be needed, but this legislation represents an important step to give Americans confidence that the government can meet this public health and economic challenge.”

Rep. Carol Miller, R-W.Va., also spoke in favor of the bill.

“As we combat the spread of the Coronavirus, it’s crucial that we continue doing everything we can to help our nation respond to this crisis,” she said in a statement.

Rep. Alex Mooney, R-W.Va., approved of the bill’s intentions, but noted concerns about its financial impact.

“Because this legislation adds at least $2 trillion to the already $23 trillion U.S. national debt, Congress needs to focus on paying off our country’s debt and balancing our budget going forward,” he said.

“Taxpayers already face interest payments annually of about a half a trillion dollars on our national debt. America will now be forced to borrow more money from countries like China and Russia or print more money which devalues our currency.”

Sens. Joe Manchin, D-W.Va., and Shelley Moore Capito, R-W.Va., voted for the bill earlier this week.





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