By Elena Naze 03/25/2020
The White House and Senate agreed to a $2 Trillion aid package to help with the economic damage caused by the COVID-19 outbreak.
The package includes direct payments of $1,200 for individuals earning below $75,000 and $2,400 for married couples earning below $150,000 with an additional $500 per child.
For individuals, the bill also enhances unemployment coverage, allows most workers to receive their full salaries or close to them, and covers gig workers such as Uber drivers.
Additionally, the bill set aside $130 billion for hospitals and $150 billion for state and local governments.
For businesses, $500 billion in loans is available to struggling corporations with $75 billion set aside for industries that took a hit such as the airline and hotel industries. Another $350 billion in loans is set aside for small businesses with an understanding that the loans may be forgiven if the companies keep workers on their payrolls.