It will next go to the House for a vote. It is hoped for that House Speaker Nancy Pelosi and Senate Majority Leader Mitch McConnell can get the coronavirus legislation through their respective chambers through unanimous consent. Earlier this week, Democrats delayed negotiations because they wanted to include more conditions on the loan fund for corporations, more money for hospitals and more generous unemployment benefits.
The deal aims to buttress the teetering economy by giving roughly $2 trillion to health facilities, businesses and ordinary Americans buckling under the strain of the coronavirus pandemic . It will also inject some $100 billion into the healthcare sector, give hundreds of billions of dollars in loan guarantees to small businesses and disburse funds to step up testing for the coronavirus , among other provisions.
He added he will make sure corporations are not allowed to " lay off workers, cut wages or benefits, ship jobs overseas, or pay workers poverty wages ". The amendment they want to introduce would limit unemployment benefits to 100% of a worker's salary. Sen. Tim Scott (R-South Carolina) is one of a handful of Republicans objecting to $600 million earmarked for Americans put out of work by the coronavirus shutdowns, on top of regular unemployment insurance payments.
The entire state of California has entered a "shelter in place" lockdown and encourage residents to stay at home as much as possible. But there's value in keeping perspective. "This marks the highest level of seasonally adjusted initial claims in the history of the seasonally adjusted series". It was a similar story across the United States.
Industrial stocks .SPLRCI , led by Boeing, were the biggest boost to the S&P 500, which is still off about $8 trillion in value from its mid February peak. Boeing surged by 24 percent, bringing its gain over the past three sessions to nearly 70 percent, as investors bet on government support for the aerospace industry as well as airlines.
Meanwhile, the employees who were in close contact with the infected workers were kept in quarantine. Amazon employees have tested positive at at least eight of its warehouse, according to The Washington Post and NPR . The contaminated employee hadn't been on the success center in a few weeks, Smalls stated - however, at a facility with greater than 2,500 full-time workers, Smalls feared that an impending outbreak is inevitable.