The Coronavirus Relief Fund for small businesses in the US – Here’s what we can expect

Trump reported in the daily White House briefing that the deal which the senator produced might officially agree on Monday.

The Senate Democratic Leader, Chuck Schumer, mentioned that he expected to close the deal by Sunday as the small businesses deserve attention as soon as possible. Even though this is a long and tiresome process, the sooner, the better.

Information regarding the deal:

This issue has been lingering for a long time as both the parties have kept on debating about it. This delayed the distribution of the grant. The Trump supporters have started protesting against the decision of Lockdown extension and closing of all small businesses.

But, this action needs to be taken as America has the world’s most significant number of COVID-19 cases totaling up to 750,000, with a total of 40,000 deaths.

Currently, the deal states to add around $250 Billion to the fund as the previous Coronavirus Relief Fund of $2.3 trillion is now completely exhausted.

Democratic leaders are advising to add more money as the pandemic hit small businesses, and the plan is to cover for all of them.

But, unfortunately, the Senator and Treasury Secretary of the United States are against this option as this will affect the economy of the country.

Congress plans to set up another Relief Fund after replenishing the funds for small businesses. The other fund would target the state governments and the public. This fund is expected to top $500 Billion.

Trump mentioned in an interview that he is supporting the local governments and the people and also said that he would try his best to initiate the Relief Fund much sooner.