Congressional
leaders have seemingly reached agreement on a $2 trillion dollar
package sending urgent financial help to small businesses, government
entities, individuals and healthcare providers. Beginning in April,
$1200 checks will be mailed to Americans based on income shown in 2018
taxes, $500 billion in loans will be made available for distressed
businesses, $350 billion in loans will be made available to small
business, and $500 billion in relief is targeted for industries, cities
and states. Unemployment Insurance funds have also been significantly
bolstered by $250 billion – $150 billion for state and local stimulus
funds and $130 billion for hospitals. There are other spending
provisions in the package and a proposed limitation on President Trump,
his family and other top government officials from receiving loans or
investments from the stimulus funds
Put together by a handful of
Congressional leaders across the aisle, this unprecedented legislation
is the most expensive stimulus bill in American history. It still needs
to pass the full Congress.
Weiss Zarett will provide updates as more details become available.
ATTORNEY ADVERTISING: PRIOR RESULTS DO NOT GUARANTEE FUTURE OUTCOMES.