news 3 days ago

Here's What's in the $2 Trillion Coronavirus Stimulus Bill

Wibbitz
Here's What's in the $2 Trillion Coronavirus Stimulus Bill The bill was passed 96-0 in the Senate and is expected to pass in the House on Friday. These are some of the bill's highlights, according to CNN: Single Americans will receive $1,200, married couples will receive $2,400 and parents will get $500 for any child under age 17. But those who make over $99,000 will not qualify, and payments will phase out for anyone making over $75,000. Student loans will be suspended without penalty through Sep. 30. Jobless workers would receive an extra $600 a week for four months in addition to their state benefits. Lawmakers also want to add up to 13 weeks of extended benefits and implement a new pandemic unemployment assistance program. Independent contractors, gig workers and the self-employed would qualify for assistance under the program. The Treasury Department will be able to provide $500 billion in loans, loan guarantees and investments to passenger and cargo air carriers, national security businesses, states, municipalities and other businesses. Federally elected officials and their relatives cannot receive funds from the $500 billion program, including president Trump. According to the American Hospital Association, about $117 billion will go to hospitals. Landlords with a federally backed mortgage loan cannot evict tenants for a 120-day period or charge late fees. Homeowners will be given a forbearance on federally backed mortgage loans for up to 60 days, with the option to extend for four periods of 30 days each. $450 million will go to The Emergency Food Assistance Program. $200 million will provide food assistance in Puerto Rico and other U.S. territories. $100 million will go toward food distribution on American Indian reservations. Other funds will go to airlines and airports, the Defense Department, the State Department, the Peace Corps and the Kennedy Center. Additionally, the deadline to obtain a REAL ID to board an aircraft will be extended until at least Sep. 2021.