US Congress Reaches Bipartisan Agreement on $8.3 Billion COVID-19 Funding Bill

[Asia Economy New York=Correspondent Baek Jong-min] The U.S. Congress has prepared an emergency budget of $8.3 billion to respond to the novel coronavirus infection (COVID-19).

According to CNBC on the 4th (local time), the budget includes $3 billion for COVID-19 vaccine development, research, diagnosis, and treatment costs, $2.2 billion for expanding public health funds, and about $1 billion for medical assistive devices and support for local health centers. $1.25 billion will be used to support countries where COVID-19 outbreaks have occurred overseas.

CNBC also reported that separately, a $7 billion low-interest loan program for small and medium-sized enterprises affected by COVID-19 has been prepared.

The budget prepared by Congress is a large amount more than three times the $2.5 billion requested by U.S. President Donald Trump to Congress earlier.

Regarding this, Republican Senator Richard Shelby, chairman of the Senate Appropriations Committee, explained, "This is not politics but our mission to protect the American people from a potential pandemic."

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