Which Economic Aids Include in the U.S.’s $2 Trillion Stimulus Bill?

Which Economic Aids Include in the U.S.'s $2 Trillion Stimulus Bill?

The United State Senate has released an economic stimulus bill on Wednesday, estimated to cost $2 trillion, in response to prevent the coronavirus that already affected human health and the economic system across the country.

The plan included giving a direct payment to all Americans up to $1,200 for individuals and $2,400 for couples, with adding $500 for every child, based on 2019 tax returns for those who filed them and 2018 information.

Adjusting as unemployment insurance by adding $600 per week for four months on top of what beneficiaries normally receive from states. And creating $500 billion for taxpayers to make loans, loan guarantees or investments in businesses, states and municipalities damaged by the outbreak crisis. Together with providing loans to small businesses to be able to cover the employee salaries.               

The roughly fiscal package will also give $25 billion in grants to airlines and $4 billion to cargo carriers to pay employee wages, salaries and benefits, and put another $25 billion and $4 billion, respectively, for loans and loan guarantees  

For the health care resources, the Senate aims to put $117 billion into hospitals and veterans’ health care nationwide and other $16 billion to medical suppliers.

Another interesting plan is to suspend student loan payments through September 30 with no accrual of interest and postpone payroll tax for employers. 

And lastly breaks President Donald Trump and his family members’ businesses from receiving emergency taxpayer relief and as well applies to Vice President Mike Pence, heads of executive departments, members of Congress and their family members

The U.S. now has more than 67,000 confirmed cases and the death toll surged to almost a thousand, causing schools and many businesses to temporarily close as a Government preventive measures against the virus outbreak.  

 

 

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