CORONAVIRUS: Senate leaders, White House agree on $2 trillion stimulus package to benefit people, businesses, hospitals, local/state governments Featured

CORONAVIRUS: Senate leaders, White House agree on $2 trillion stimulus package to benefit people, businesses, hospitals, local/state governments Centers for Disease Control and Prevention graphic

US Senate leaders say they have reached an agreement with the White House on a massive $2 trillion stimulus deal aimed at helping residents and businesses both get through the coronavirus pandemic.

Full details have not yet been announced but should be coming at some point Wednesday. Senate President Mitch McConnell:

 


Senate Minority Leader Chuck Schumer:

 

Lawmakers had been negotiating a deal that would give individuals and families nearly-instant relief. Plans have been mentioned for people earning up to $75,000 getting direct payments of $1,200 each. Couples earning up to $150,000 would get $2,400 with an additional $500 per child. After that, checks would scale down as income increases, with a cap at $99,000 for individuals and $198,000 for couples.

That framework had $250 billion going to direct payments to individuals and families. Another $350 billion could go to small business loans, with $250 billion in unemployment insurance and $500 billion in loans for distressed companies. There could be as much as $130 billion for hospitals and $150 billion for state and local governments.

Another component would block President Trump, his family, top government officials and lawmakers from getting loans or investments from Treasury programs as part of this plan.

This still has to pass Congress as a whole. If it passes, it's the largest federal stimulus package in modern US history.

Rate this item
(0 votes)