Trump signs virus aid bill after panning $600 stimulus checks

President Donald Trump signed a bill containing $900 billion in pandemic relief, the White House said, triggering the flow of aid to individuals and businesses and averting the risk of a partial government shutdown on Tuesday.

President Donald Trump signed a bill containing $900 billion in pandemic relief, the White House said, triggering the flow of aid to individuals and businesses and averting the risk of a partial government shutdown on Tuesday.

In addition to aid to stem the economic effects of the pandemic, the legislation Congress passed Monday also includes $1.4 trillion in government spending to fund federal agencies through the end of the fiscal year in September. The government had been operating on temporary spending authority that expires after the end of the day Monday.

CORONAVIRUS IMPACT: ADDITIONAL COVERAGE

Srividya (Sri) serves Customer Insights Professionals. She leads a team of analysts focusing on helping businesses collect, manage, analyze, and apply customer data to win, serve, and retain customers. Specifically, her team focuses on advanced analytics, predictive analytics, customer analytics, business intelligence, and artificial intelligence.

Previously, Sri was a senior analyst on the Customer Insights team, focusing on customer analytics best practices and technologies, services, and analytical applications that help firms convert customer data into meaningful insights. Sri continues to help marketing clients address their customer analytics needs, map out customer intelligence requirements and strategies, and navigate the analytics technology and services landscape.

Previous Work Experience

Sri has over 10 years' experience in marketing and customer analytics, product management, marketing management, and business analysis on both the client and agency side. Prior to Forrester, she managed digital media measurement and analytics for multiple clients across verticals at Allen & Gerritsen, a Boston-based advertising agency. Previously, she worked at Cognizant, a global provider of information technology, consulting, and business process outsourcing services managing marketing communications programs. Prior to Cognizant, Sri worked at Sify Technologies — an India-based Internet service provider — managing the consumer broadband product portfolio including planning, executing, and measuring multichannel marketing campaigns.

Education

Srividya holds an M.S. in integrated marketing communications with a specialization in customer and marketing analytics from Northwestern University, Chicago, and an MBA from India.

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Elizabeth St-Onge is a partner in Oliver Wyman’s financial services practice in New York.

The combined $2.3 trillion package was the product of intense negotiations, from which Trump was largely absent until he surprised lawmakers of both parties by demanding bigger stimulus payments for individuals after the bill was already passed.

Trump said in the statement announcing the signing that the GOP Senate had agreed to vote on increasing the $600 individual payments and two other, unrelated matters dealing with social media and his unfounded allegations of voter fraud.

President Donald Trump in the Oval Office
President Donald Trump in the Oval Office
Zach Gibson/Pool via Bloomberg

His delay in signing it means those aid payments will likely be later than Treasury Secretary Steven Mnuchin had promised and may cut a week from the supplemental unemployment benefits that were part of the package and scheduled to end in March.

The virus relief package will likely be the last major legislation signed by Trump, whose re-election hopes were dashed in large part due to his handling of the pandemic.

President-elect Joe Biden has said he will push for even more stimulus after taking office early next year, but it remains unclear whether Republicans in Congress would go along. Control of the Senate will be determined by the outcome of two runoff elections in Georgia on Jan 5.

Lawmakers approved the government funding and additional relief at the last possible moment before they were set to leave Washington for a year-end break. Business leaders have called on Congress to pass more stimulus for months, saying that restaurants, theaters, mom-and-pop stores and airlines were being decimated by closures and restrictions as Covid-19 cases spiked in the U.S.

Senate Majority Leader Mitch McConnell, House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer announced a relief deal on Sunday after more than a week of frantic talks sparked by a bipartisan group of senators who drafted their own compromise proposal and urged their leaders to act. Treasury Secretary Steven Mnuchin, representing the administration, also was involved in the talks.

Trump surprised even his fellow Republicans on Tuesday by tweeting a video saying that he wanted Congress to increase the size of stimulus payments for individuals to $2,000, from the $600 in the bill Congress passed. He also complained about federal spending on foreign aid and international programs, even though those funds were allocated as part of the bipartisan appropriations process for funding the government.