President Donald Trump is set to sign the $900-billion coronavirus relief bill and a government funding measure that was approved by the US Congress on Monday.
The House voted to approve the two long-awaited bills on Monday evening, followed by the Senate near midnight.
It will now go to Trump, who earlier said he will sign it.
“President Trump has pushed hard for months to send Americans badly needed financial relief,” White House spokesman Ben Williamson said on Sunday. “We look forward to Congress sending a bill to his desk imminently for signature.”
The package contains direct stimulus payments for individuals of $600 to $700. It also includes enhanced federal unemployment benefits of $300 per week, $330 billion for small business loans, more than $80 billion for schools and several billion dollars to cover the costs of distributing vaccines for the coronavirus disease 2019 (Covid-19) vaccines made by Pfizer and Moderna.
Treasury Secretary Steven Mnuchin said in a TV interview CNBC on Monday the first stimulus payments should be sent out next week.
“This is a very, very fast way of getting money into the economy,” he said. “Let me emphasis People are going to see this money at the beginning of next week,” he said.
“People go out and spend this money, and that helps small business and that helps getting more people back to work,” Mnuchin added.
“While this bill is far from perfect – nor is it the bill that we would pass if Democrats had a majority in the Senate – it is a strong shot in the arm to help American families weather the storm,” Senate Democratic leader Chuck Schumer said on Sunday. SOVEREIGNPH