REPORT: What’s in the $2 Trillion Senate Coronavirus Bill

MARCH 25, 2020

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As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by WSJ.com:

The Senate’s $2 trillion emergency aid bill is nearing the finish line in Congress, as lawmakers moved to cushion the economic impact of the coronavirus outbreak. Here is a look at the major pieces of the package, and how households and businesses are set to benefit, based on where the legislation stood late Wednesday.

We’ve broken it into four parts: the top lines, households and workers, business and banking, and personal finance and taxes.

Below is a condensed itemization of the Wall Street Journal’s exclusive report published Wednesday night:

THE TOP LINES:

  • $250 billion – Unemployment insurance for more workers, extends duration of benefits, adds extra $600/week for four months.
  • $301 billion – direct payments to households
  • $349 billion – loans to small businesses
  • $500 billion – loans, other aid to businesses, states and municipalities, including the following:
    • $29B – Cargo & Passenger airlines
    • $17B – Businesses critical to national security
  • $32 billion – grants to cover airline wages
  • $150 billion – direct aid to states and municipalities
  • $221 billion – tax benefits for businesses
  • $340 billion – supplemental spending, including public transit, hospitals and veterans’ care

HOUSEHOLDS AND WORKERS

  • Checks to individuals
    • $1,200 – adults
    • $500 – per child
  • Unemployed workers – extends jobless benefits from 26 to 39 weeks, includes extra $600 weekly for first four months
  • Gig workers and Freelances – extends unemployment benefits, includes extra $600 weekly for first four months

BUSINESS AND BANKING – The following industries are supported:

  • Airlines
  • Auto Industry
  • Banks
  • Boeing
  • Energy
  • Farmers
  • Health Industry
  • Hotels
  • Movie Theaters
  • Music
  • Postal Service
  • Private Equity Funds
  • Railroads
  • Retailers
  • Restaurants
  • Small Business
  • Tech

PERSONAL FINANCE AND TAXES – Eases requirements in the following categories:

  • Bankruptcy
  • Credit Reporting
  • Mortgages
  • Retirement
  • Student Loans
  • Taxes

To get more information about this article, please visit WSJ.com. To weigh in, leave a comment below.

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