The U.S. Senate passed an $8.3-billion bill and sent it to President Donald Trump in an effort in aiding state and local governments to fight the spreading of the coronavirus.
The bill, which was initially approved on Wednesday by the House of Representatives, is now expected to be signed into law where the funding would be focused toward developing vaccines and in efforts to control the spread.
The move from Congress comes after deaths reported in the U.S. increased to 11 with new infected cases being identified from New York City and Los Angeles.
Apart from sending money throughout the U.S., the bill also allows for provision of low-interest loans to businesses affected by the virus.
Crude oil futures decline as coronavirus pandemic furthers weak demand outlook26.03.2020
Putin provides a week-long holiday for Russians in social bundle to fight coronavirus26.03.2020
Gold prices drop as U.S. congress concludes deal on $2 trillion stimulus package25.03.2020
RBA buys semi-government bonds as coronavirus crushes state revenues