US House passes $3 trillion pandemic aid bill opposed by Trump



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US House passes $3 trillion pandemic aid bill opposed by Trump

On Friday, the 15th of May 2020, the Democrat-controlled US House of Representatives voted to approve a $3 trillion stimulus package by the narrowest of margins aimed at proffering further cushions to the $20.58 trillion US economy which had recessed at its steepest pace on record since March 21st.

In tandem, latest Democrat-led measure to unveil another relief bill worth of $3 trillion comes over the heels of a record slump in US April retail sales data by 16.4 per cent, while the US industrial activity had plunged at its sharpest pace since the World War I.

Nonetheless, followed by the approval of a $3 trillion in additional relief bill by a vote of 208 to 199 that appears to have paved the passage for the Democrats to yield supports from small- to medium-scale business owners ahead of the November US Presidential election, the Republican President Donald Trump was quoted saying that he would be blocking out the bill if it could reach his desk.

On top of that, after US President Donald Trump had vowed to veto the $3 trillion relief bill, US House Speaker Nancy Pelosi said on Sunday (May 17th) that the Democrat-led measures would likely to set off a new round of negotiation among the Congressional Republicans, Democrats alongside the US president Donald Trump, who had been pressing for additional tax cuts alongside business liability protections over the recent past.