FX.co ★ White House signs 2021 government spending deal

Late on Sunday, December 27th, US President Donald Trump signed the budget bill for the 2021 fiscal year ending on September 30th. The bill allocates funds for a stimulus package to the US economy and direct payments to citizens that suffered during the COVID-19 pandemic. This is said to have helped to avoid a shutdown.

The deal signed by the US President includes a stimulus package of almost $900 billion. Earlier DonaldTrump refused to sign the document, demanding a number of changes to be introduced.

Last Sunday, a group of 11 Senators and Congressmen pleaded with the President to sign the national budget. The alternative was to abandon the COVID-19 stimulus bill. Donald Trump opted to sign the deal.

The new spending bill envisages $1.4 trillion financing of the government as far as September next year. It also includes the $900 billion stimulus package.

It is to be mentioned that the main stumbling stone was the disagreement between the legislators. It took the Senate and Congress more than a month to hammer out their differences. However, this past week ending on December 27th, the Congress gave a nod to the new stimulus package.