US finally passes $900bn stimulus deal as hopes for recovery increase
Congress last night squeezed through approval of a $900bn stimulus deal intended to give the US economy a much-needed boost.
The package has been the subject of tortuous negotiations over recent weeks but an agreement was struck over the weekend.
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The stimulus package will re-capitalise a small business loans programme as well as providing direct financial assistance to many Americans, with $600 cheques being sent to adults earning less than $75,000.
The stimulus is part of a wider package of measures including an additional $1.4trn to fund the government until the end of the fiscal year, in September 2021.
Aviation is also a winner, with the industry receiving a further bailout.
Late last night the US President-Elect Joe Biden received the Pfizer vaccine, as the rollout picks up pace in the US.
The American drug regulator also gave the Moderna vaccine approval for use.