$2 trillion economic package… largest in American history #dablock

The White House negotiated a $2 trillion stimulus package, which is the largest bailout in American history.

Early Wednesday morning, Senate Majority Leader Mitch McConnell(R-KY) tweeted, “After days of intense discussions, the Senate has reached a bipartisan agreement on a historic relief package for this pandemic. This is a war-time level of investment for our nation.”

Money will go directly to individuals, hospitals, states and the industries hardest-hit by the growing coronavirus pandemic. The agreement includes:

  • $1,200 checks to many Americans and $500 for most children
  • Unemployment insurance will be expanded and supplemented
  • $367 billion loan program for small businesses grappling with short term payroll issues
  • $150 billion to hospitals, which have been particularly disrupted
  • $150 billion for state and local stimulus funds
  • $500 billion lending program for distressed companies

Votes in Congress and the Senate, followed by PresidentDonald Trumpsigning the bill is expected to occur in a matter of days. White House economic adviserLarry Kudlowcalled the legislation the “single largest Main Street assistance program in the history of the United States.” Check could start going out in a few weeks. (Washington Post)

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