The Hill: White House, Senate reach deal on $2 trillion stimulus package

“The White House and Senate leaders reached a deal early Wednesday morning on a massive stimulus package they hope will keep the nation from falling into a deep recession because of the coronavirus crisis.”

“The revamped Senate proposal will inject approximately $2 trillion into the economy, providing tax rebates, four months expanded unemployment benefits and a slew of business tax-relief provisions aimed at shoring up individual, family and business finances.”

“The deal includes $500 billion for a major corporate liquidity program through the Federal Reserve, $367 billion for a small business loan program, $100 billion for hospitals and $150 billion for state and local governments.”

“It will also give a one-time check of $1,200 to Americans who make up to $75,000. Individuals with no or little tax liability would receive the same amount, unlike the initial GOP proposal that…” Read the full article here.

Source: White House, Senate reach deal on $2 trillion stimulus package – By Alexander Bolton and Jordain Carney, March 25, 2020. The Hill.

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