The Senate unanimously passed a massive stimulus package late Wednesday night in an effort to jumpstart the US an economy. As reported in The Hill
The bill provides more than $2 trillion for workers, small business and industries impacted in recent weeks by the virus.
The bill marks an unprecedented attempt by the federal government to revive the economy and prevent a deep recession. The 2008 Troubled Asset Relief Program (TARP), by comparison, was $700 billion.
The Senate’s vote comes one week after they passed a $104 billion “phase two” coronavirus package.
The wide-reaching bill includes a $1,200 one-time check for individuals who make up to $75,000. That amount would scale down until it reached an annual income threshold of $99,000, where it would phase out altogether.
It also provides $377 billion in small business aid, would defer federal student loan payments through Sept. 30, 2020, and would prevent money given under the bill to the Pentagon to be transferred to the border wall.
The bill also provides $100 billion for hospitals and $200 billion for other “domestic priorities,” including child care and assistance for seniors.
The unemployment provision includes four months of boosted unemployment benefits, including increasing the maximum unemployment benefit by $600.
The 700-plus page bill includes a $500 corporate liquidity fund to corporations; $25 billion would be set aside for U.S. airlines, $4 billion for air cargo carriers and $17 billion for other distressed companies related to critical national security.
– And who determines who gets how much of that “stimulus money” ? Is that determined by Trump and his buddies ?