Trump signs pandemic aid and spending bill

U.S. President Donald Trump on Sunday signed into law a $ 2.3 trillion pandemic relief and spending bill that restores unemployment benefits for millions of Americans and prevents the federal government from shutting down in the event of a crisis he himself created.

Donald Trump (Donald Trump), who leaves office on January 20 after losing the November presidential election Joe Biden (Joe Biden), renounced his previous threat to block a bill that was passed by Congress last week after coming under intense pressure from legislators on both sides.

The Republican president, who played golf on Sunday and remained out of the public eye even as a government crisis loomed, demanded that Congress change the law to increase incentive checks for Americans from $ 600 to $ 2,000, and cut some other spending..

It was not immediately clear why Trump, who refused to admit defeat to Biden, changed his mind about the economic stimulus package. His resistance threatened to bring new chaos in the last period of his presidency..

After signing the bill behind closed doors at his beach club, Trump tried to put a good face on a bad game by stating that he was signing the bill with «a strong message that makes it clear to Congress that unnecessary items need to be removed».

«Much more money will come», – he said in a statement, although he did not provide anything to support his promise.

And since Trump has less than a month left, he is expected to receive little or no support from legislators for the change..

White House officials are silent about Trump’s thoughts, but a source familiar with the situation said that some advisers urged him to yield because they saw no point in refusing to do so..

Democrats have long supported the $ 2,000 payout, but many Republicans oppose it, so it is unlikely that the figure will be revised upward while Trump is in power..

Many economists agree that financial aid to direct payments to the public needs to be higher for the economy to work again, but say urgent support for Americans affected by the coronavirus is still urgently needed..

Unemployment benefits paid to roughly 14 million people through pandemic programs expired on Saturday but will now resume after Trump signed into law.

The package includes $ 1.4 trillion in government funding. If Trump had not signed the law, then on Tuesday there would have been a partial government shutdown, threatening the incomes of millions of civil servants..

Americans are facing a tough holiday season amid a pandemic that has killed nearly 330,000 people in the United States, and the daily death toll now exceeds 3,000, the highest since the coronavirus pandemic began..

The aid package also extends the eviction moratorium that was due to expire on Dec. 31, resumes support for small business jobs, provides funding to help schools reopen, and helps the transportation industry and vaccine proliferation..

Global share prices rally in response to news that Trump signed stimulus bill and backtrack on government spending crisis.

S Futures&US P and Japanese Nikkei are up about 0.4%, while spot gold prices are up nearly 1%. «The positive thing for the markets is that we no longer have chaos due to incentives, given the possibility of a partial shutdown of the government», – said Masahiro Ichikawa (Masahiro Ichikawa), Chief Strategist at Sumitomo Mitsui DS Asset Management.

Trump’s decision to sign the law came after a majority of Republican MPs refused to support his call for changes in legislation they had already voted on..

Republican Senator Pat Toomey from Pennsylvania told Fox News on Sunday that Trump wants «he was remembered for advocating big checks, but the danger is that he will be remembered for the chaos, suffering and extravagant behavior if he lets it expire».

Republican officials noted with relief that Trump has abandoned his vetoed threat of veto, saying it should help Republican candidates for the Senate. David Purdue (David Perdue) and Kelly Leffler (Kelly Loeffler) in the second round of the January 5 Georgia election that will determine who will control  US Senate.

Trump signs pandemic aid and spending bill

Trump noted that the Democratic-controlled House of Representatives was planning to vote on Monday to increase the amount of individual coronavirus aid checks from $ 600 to $ 2,000, and said the Senate «will start the process», to approve higher payments.

Senate Majority Leader Republican Mitch McConnell (Mitch McConnell) said: «I thank the president for signing this law», but did not mention any plans to vote in the Senate.

Speaker of the House of Representatives from the Democratic Party Nancy Pelosi (Nancy Pelosi) hailed Trump’s signing of the bill as «advance payment for what is needed», stating: «The President must now immediately call on Republicans in Congress to stop obstructing and join him and the Democrats in supporting our separate legislation to increase checks for direct payments to $ 2,000.».

After months of controversy, Republicans and Democrats agreed to a package over the weekend with White House backing.

Trump stunned both Republicans and Democrats when he later said he was unhappy with the final $ 892 billion package in bailout from the coronavirus pandemic..

Trump spent his Christmas holidays at his Mar-a-Lago residence in Florida. On Sunday morning, he seemed in no rush to try to resolve the conflict with Congress while playing golf at his own golf club. Trump International Golf Club in West Palm Beach.

He also complained that the bill allocates too much money to «special interests», cultural projects and foreign aid.

In his signed statement, Trump also sought to support his campaign with baseless claims that November elections were rigged..

He said that the House of Representatives and the Senate «agreed to focus on very significant voter fraud» and that the Senate will start an investigation.

Neither McConnell nor Pelosi mentioned such an agreement. Democratic lawmakers vehemently rejected Trump’s claims, as did some Republicans. McConnell angered Trump by nominating Biden as president-elect.

Trump signs pandemic aid and spending bill

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