Ottawa passes $82 billion dollar aid package

The House of Commons and the Canadian Senate have approved the age package, which now has royal assent and will help struggling Canadian's impacted by COVID-19

While the deal came a day later than anticipated, both the House of Commons and the Senate passed the $82 billion emergency aid package.

Members of Parliament finally reached an agreement and passed the COVID-19 Emergency Response Act shortly before 6 a.m. this morning. While the bill nearly stalled in Parliament yesterday when first introduced, both sides of the aisle worked through their disputes and passed all three readings this morning before sending the bill off to the Senate. Conservatives took issue yesterday with the bill's proposal to give the Liberal minority government's cabinet sweeping new powers to spend, tax and borrow money without needing to get the consent of Parliament for upwards of 18 months.

The Senate fast-tracked it's own review of the support package at a 10 a.m. meeting and had passed the bill shortly before noon. Governor General Juile Payette then gave the legislation Royal Assent by 1:30 p.m.

$82B in emergency aid will be provided across the country, with 500 million dollars earmarked for the provinces and territories. The other billions will go towards covering tax deferrals, deferring repayments and freezing interest on student loans for six months. An emergency benefit for workers who have lost their income due to the novel coronavirus was also provided, as was and expansion for Employment Insurance eligibility.

 

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