Senate Approves Emergency Coronavirus Aid Package

U.S. Senate votes 90-8 to OK measure that passed House last week.
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The U.S. Senate voted 90-8 Wednesday to approve an emergency aid package to help offset some of the economic damage being caused by the coronavirus shutdowns.

Details of the plan were worked out last week between House Speaker Nancy Pelosi and Treasury Secretary Stephen Mnuchin.

It provides for expansion of paid sick and family leave, free testing for the coronavirus and increased unemployment insurance.

President Donald Trump has expressed support for the measure, which passed the House last week.

The Senate passage clears the path for additional emergency legislation to help get money into the rapidly contracting U.S. economy.

New proposals include a $50 billion airline bailout, $150 billion for other hard-hit economic sectors and direct payments to Americans totaling $500 billion, Politico reported.

On Tuesday, Mnuchin said the IRS will automatically extend the payment deadline for any taxes due for 90 days from the April 15 deadline.

U.S. stocks fell sharply Wednesday, amid widening fears of an extended recession due to the shuttering of much of the U.S. economy to fight the spread of the coronavirus.