Trump Signs Stimulus and Government Spending Bill into Law, Averting Shutdown

President Trump signed the stimulus bill into law yesterday, releasing $900 billion in emergency relief funds into the economy and averting a government shutdown. White House officials didn’t explain why the president decided to suddenly sign into law a bill he had held up for nearly a week and had previously referred to as a “disgrace”. Trump had previously demanded changes to the stimulus and spending package for a week, suggesting he would refuse to sign it until these demands were met. This continued defiance caused lawmakers from both parties to panic over the weekend, worried about the implications of a government shutdown during a pandemic. It was unclear what prompted him to change his mind late Sunday. The package will extend aid to millions of struggling households through stimulus checks, enhanced federal unemployment benefits, and money for small businesses, schools and child care, as well as for vaccine distribution. It also repurposes $429 billion in unused funding provided by the Cares Act for emergency lending programs run by the Federal Reserve.

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