Pelosi unveils three trillion coronavirus aid plan
House Speaker Nancy Pelosi unveiled the Heroes Act a multitrillion COVID-19 relief package with nearly 1 trillion for states cities and tribal groups 1200 direct payments up to 6000 per household 175 billion housing aid 75 billion for testing and continued 600 weekly unemployment benefits The plan faces a Senate roadblock as Republicans push for liability protections and a cautious approach amid the crisis.
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Postal Service to get 25B in coronavirus aid package
The House Democrats proposed a 25 billion dollar USPS bailout in a new coronavirus relief bill, warning the mail agency could run out of money by September unless funded. Mail volume has fallen over 30 percent due to the pandemic, with losses seen rising by more than 22 billion over 18 months.
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Fed posts record April deficit as spending soars
The U S government ran a record $737.9 billion deficit in April, triple the February record, as revenue fell and spending surged to tackle the coronavirus pandemic. Year to date deficits reached $1.48 trillion with forecasts to surpass $3 trillion. House Speaker Pelosi unveiled a new $3 trillion relief plan, facing uncertain Senate prospects.
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