• By The Financial District

TRUMP RETREATS, INKS COVID AID BILL, FEDERAL FUNDING MEASURE

President Trump abruptly signed a measure providing $900 billion in pandemic aid and funding the government through September, ending last-minute turmoil he himself created over legislation that will offer an economic lifeline to millions of Americans and avert a government shutdown, the New York Times reported.

Democrats in the U.S. Congress will try to push through expanded $2,000 pandemic relief payments for Americans after President Donald Trump backed down from a fight with lawmakers that could have shut down the federal government, Susan Cornwell and Steve Holland reported for Reuters.


In a sudden reversal late on Sunday, Trump signed into law a $2.3 trillion pandemic aid and spending package, restoring unemployment benefits to millions of Americans and providing funds to keep government agencies running.


Trump, who leaves office on Jan. 20 after losing November’s election to President-elect Joe Biden, retreated from his threat to block the bill, which was approved by Congress last week, after he came under pressure from lawmakers on both sides, the Associated Press (AP) and CNN also intimated.



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