Successful Stimulus Package agreement, personal $1,200 payment terms?

Stimulus Package can be executed after Senate vote

  • stimulus package content
  • stimulus package cash payment condition
  • $500 extra payment per child

On the morning of the 25th, leaders of the White House and the Senate agreed on a super-stimulation package bill for Corona 19 response.
A marathon negotiation passed over a few days.
The stimulus package bill is $ 2 trillion, which is more than the sum of the global financial crisis in 2008 and 2009.
Details have not yet been announced, but it included economic support for companies, local governments and cities affected by Corona 19.
Since the leaders of the Senate have agreed, the stimulus package can now be implemented after the Senate vote.
The contents of the stimulus package are as follows.
cash support directly to the people
Each year, a maximum of $ 75,000 in income taxpayers will be paid a $ 1,200 check, and a couple with incomes of less than $ 150,000 will receive $ 2,400.
It is reduced until individuals reach $99,000 in income and $198,000 for couples, and is phased out in full; it is also offered at an additional $500 per child.
a huge increase in unemployment benefits
Extend unemployment insurance by 13 weeks and extend unemployment benefits by 4 months.
In response to Democratic claims, the program expanded to include performing workers such as freelancers, employees, and Uber drivers.
Unemployment allowances will increase by up to $600.
Small and medium-sized companies will receive emergency loans if they maintain workers.
The bill provides federal guarantee loans for small businesses that have promised not to fire workers.
Loans are available for emergency periods until June 30, and can be forgiven if the employer continues to pay the worker during the crisis.

stimulus package

Companies that are struggling can receive government bailouts.
Loans for troubled companies will come from a $42.5 billion fund managed by the Federal Reserve Bank, with an additional $75 billion offered for industrial loans, including airlines and hotels.
$100 billion hospital support
The national hospital and health system included $100 billion.
It was included for new construction that could accommodate individuals and protective equipment, medical workers, test supplies and patients.
student loan suspension
According to the bill, the Ministry of Education said it would suspend the student loan borrower without disciplinary punishment by September 30.
differential pressure and eviction prevention
The bill includes housing foreclosures on mortgages and housing protections for tenant evictions.
Under the bill, those facing financial difficulties due to the corona virus are given up to 60 days of tolerance for federal-backed mortgage loans, which can be extended four times, 30 days each. Under the law, federally funded mortgage lending services cannot begin the differential pressure process for 60 days from March 18.
The bill also does not allow fees, penalties or additional interest to be imposed due to delays in payment. It also includes similar protections for people who take out multi-family federal mortgages, which can last 30 days and extend up to two days.
Federal-backed mortgage lenders with tenants cannot evict tenants only if they have not paid their rent for 120 days, and cannot charge them fees or penalties if they fail to pay their rent.

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