Top Senate and House Leaders Come to an Agreement
Senate leaders and the Trump administration reached agreement early Wednesday on a $2 trillion stimulus package to rescue the economy from the coronavirus assault, setting the stage for swift passage of the massive legislation through both chambers of Congress.
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The legislation, unprecedented in its size and scope, aims to flood the economy with capital by sending $1,200 checks to many Americans, creating a $367 billion loan program for small businesses and setting up a $500 billion fund for industries, cities and states.
The legislation would also significantly boost unemployment insurance, expanding eligibility and offering workers an additional $600 a week for four months, on top of what state unemployment programs pay.
Sen. Marco Rubio (R-Fla.), who negotiated the small-business portion, said it had grown to $367 billion, with inclusion of six months of loan forbearance for all small businesses adding $17 billion to the original $350 billion price tag.
Direct payments to lower- and middle-income Americans of $1,200 for each adult, as well as $500 for each child. Senate Minority Leader Chuck Schumer said checks would be cut April 6.
As specifics and guidelines are issued, we at Records In Order will get that information out to you.
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