Incoming package! U.S. lawmakers are putting the final touches on a $2 trillion stimulus package for COVID-19 relief.
The bill includes direct payments for many Americans, increases to unemployment benefits, billions in loans for businesses, and funding for healthcare providers.
- Bill on Capitol Hill. The bill now goes to the House for another vote. House Majority Leader Nancy Pelosi (D-CA) says she wants to get it passed quickly.
How does it affect my wallet?
- Pay day. Americans could receive one-time checks for up to $1,200. Sounds good, but there’s the hidden cost.
- Corporate aid. The bill includes $500 billion for corporate bailouts, but there are strings attached. Companies that take the money can’t buy back stock for a year.
The little guys. Many small businesses are in dire straits right now, so they’re getting $350 billion to help cover payrolls and costs.
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