BTC STYLIST FORUM Coronavirus Live News Updates 3/18: Department of Treasury Gives More Details On Proposed Corona Response.

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      The Department of Treasury gave further details on its proposed relief stimulus package in response to the economic ramifications of the COVID-19 pandemic.

      The “Stage Three Proposal” would allocate funds for individuals, small businesses and major corporations and industries, such as the airline industry.

      The individual relief includes:

      – TWO authorized direct payments to taxpayers beginning on April 6th 2020 and May 18th 2020.

      – Payment amounts would be determined by income level and family size.

      – Payment amounts would be fixed for both disbursement dates.

      Small business relief includes:

      – The creation of a small business interruption loan program that promises a 100% qualifying guarantee.

      Qualifying terms include:

      -Employers with 500 employees or less.

      -Loan amounts include: 100% of 6 weeks of payroll, capped at $1540 per week per employee.

      -Employee compensation must be sustained for all employees for 8 weeks from the loan disbursement date.

      To read more about the proposal, including a copy of the document, click here:

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