Biden signs 1.9-trln-USD relief bill into law after partisan passage in Congress

Washington (US), March 12: U.S. President Joe Biden on Thursday signed the 1.9-trillion-U.S.-dollar COVID-19 relief bill into law, after weeks of partisan fighting in the Congress, marking the first legislative victory for Biden since he took office.
The signing came one day after the House of Representatives approved the measure in a starkly partisan vote of 220-211. Last week, the evenly split Senate narrowly passed the bill by a vote of 50 to 49.
Meanwhile, a survey recently released by the Pew Research Center showed that there is broad public support for the relief package, with 70 percent of Americans saying they favor the legislation.
"The United States, in the Congress is more polarized than the American people," Jeffrey Sachs, economics professor at Columbia University and senior United Nations advisor, told Xinhua Wednesday.
"The American people have actually a broad consensus, let's get on with our lives. Let's have the control of the pandemic. Let's have an increased role of government, but the political divide between the Democrats and Republicans is very strong," Sachs said.
The measure, the sixth coronavirus-related legislation since the outbreak more than a year ago, includes funding for COVID-19 vaccination and testing, extra unemployment benefits, direct payments to working Americans, support for small businesses, state and local governments, along with schools.
Calling it a historic legislation with overwhelming support from Americans, Biden said at the White House Oval Office that the bill will help rebuild the "backbone of this country."
The signing of the bill came a few hours after the Labor Department reported initial jobless claims last week decreased by 42,000 to reach 712,000, following an increase in the previous week.
Meanwhile, the total number of people claiming benefits in all programs -- state and federal combined -- for the week ending Feb. 20 rose by 2 million to 20.1 million, indicating continued disruption to the labor market by the COVID-19 pandemic.
The relief bill includes a 300-dollar weekly federal unemployment benefit through September, instead of the 400 dollars in an earlier version approved by the House. It also includes a new round of up to 1,400 dollars of direct payments for Americans.
Despite strong support from Democratic lawmakers, the bill might be a little disappointing to some progressives, who advocated for the federal minimum wage to be raised to 15 dollars an hour, a provision that wasn't included in the final package.
President Biden, as well as Treasury Secretary Janet Yellen, have argued that bold action is needed to support the economic recovery and avoid lasting scars. Some economists, however, have warned that the new relief package might be too big, and could bring risks, such as setting off inflationary pressures, and undermining global financial stability.
Source: Xinhua