{"id":38515,"date":"2021-03-08T16:34:46","date_gmt":"2021-03-08T14:34:46","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=38515"},"modified":"2025-08-30T05:15:00","modified_gmt":"2025-08-30T02:15:00","slug":"u-s-senate-approves-1-9-trillion-plan-to-rescue-the-economy","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/u-s-senate-approves-1-9-trillion-plan-to-rescue-the-economy\/","title":{"rendered":"U.S. Senate approves $1.9 trillion plan to rescue the economy"},"content":{"rendered":"

The U.S. Senate approved a $1.9 trillion package of economic relief aimed at tackling the consequences of the COVID-19 pandemic. This was reported by CBS News<\/a>.<\/p>\n

<\/p>\n

The 117th Congress Senate comprised 50 Republicans and 48 Democrats. Two senators were elected as independents, though they joined the coalition with the Democrats.<\/p>\n

The remainder backed the plan unanimously. Forty-nine 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.<\/p>\n

The measures proposed by President Joe Biden provide $1,400 payments to individuals earning less than $75,000 a year. Another provision extends unemployment support until September.<\/p>\n

The rest of the funds will be allocated to states and localities, schools, businesses, and to expanding testing and vaccination programs.<\/p>\n

Republican lawmakers had proposed trimming the package to $600 billion. They argued most of the money would go to addressing issues not related to economic recovery. Biden did not agree with the initiative.<\/p>\n

\n

\u201cThe essence is this: this plan puts us on a path to fight this virus. It gives those families hardest hit the help and the breathing room they need [\u2026] This plan gives small businesses in the country a chance to survive,\u201d the president said.<\/p>\n<\/blockquote>\n

Earlier, with support for Biden’s package, US Treasury Secretary Janet Yellen spoke. In November 2020, Morgan Creek Digital co-founder Anthony Pompliano described her potential appointment to the post as good news for Bitcoin<\/a>, noting that the official’s stance on pumping money into the economy points to coming high inflation.<\/p>\n

According to CoinDesk<\/a>, the approval of stimulus measures could raise cryptocurrency prices, especially if recipients use the money to buy digital assets.<\/p>\n

Past stimulus checks of $1,200 and $600, if invested in Bitcoin, are estimated to be worth more than $10,000 at the time of writing.<\/p>\n

Earlier, in February, Yellen described Bitcoin as a speculative asset<\/a>, with digital gold briefly falling to $47,500<\/a>.<\/p>\n

Subscribe to the ForkLog channel on YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S. Senate approved a $1.9 trillion package of economic relief aimed at tackling the consequences of the COVID-19 pandemic. This was reported by CBS News.<\/p>\n","protected":false},"author":1,"featured_media":38516,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1449,26],"class_list":["post-38515","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-joe-biden","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/38515","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=38515"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/38515\/revisions"}],"predecessor-version":[{"id":38517,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/38515\/revisions\/38517"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/38516"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=38515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=38515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=38515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}