Washington, D.C. — The $2.2 trillion COVID-19 economic relief bill was approved by the Senate. The historic bill was unanimously passed last night.
The 880 page legislation took some time for both sides of the isle to agree on the 500 page relief bill. Missouri Senator Josh Hawley said there are provisions in the bill to give $1200 for each adult and $500 for each child.
The package reportedly has a negotiated $500 billion program for guaranteed, subsidized loans to larger industries, including airlines. Hospitals would get significant assistance as well.
Small business are also going to be eligible for a “Paycheck Protection Program” which will provide 8 weeks of funding to support their business. If your business is impacted by the virus, and you can use this assistance to keep employees on payroll or to pay rent, and you don’t have to pay it back.
House Speaker Nancy Pelosi is forecasting quick bipartisan approval of the massive $2.2 trillion coronavirus economic relief bill approved by the Senate. The bill is quickly being debated over and pushed through legislatures. The United States stands to fall into a greater recession than in 2008 during this pandemic. Pelosi said that she wants citizens to act quickly to receive their unemployment insurance claims.
The government Thursday reported 3.3 million new unemployment claims, that is almost five times greater than the previous record set in 1982. The President Donald Trump has implored lawmakers to finish the package so he can sign it into law.
The House is likely to have a vote on it tomorrow.