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BTC STYLIST FORUM Coronavirus Live News Updates 3/25: U.S. Senate and White House Reach Deal On Stimulus Package

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      DinaC

      The United States government is planning to vote on a historic stimulus bill on Wednesday, March 25. The economic relief package would bring much needed relief to individuals, small businesses and hospitals.

      The package includes direct payments to many Americans, here is a breakdown:

      -Individuals who earn $75,000 in adjusted gross income or less would get direct payments of $1,200 each.

      -Married couples earning up to $150,000 receiving $2,400.

      -Families will get an additional $500 per each child.

      -Payment would scale down by income, phasing out entirely at $99,000 for singles and $198,000 for couples without children.

      Funds allocated for businesses include:

      -$350 billion dollars for small business loans.

      -$250 billion in unemployment insurance benefits.

      -$500 billion in loans for major companies in distress.

      The stimulus package also includes $130 billion for strained hospitals and $150 billion for state and local governments that have been hit hard by the coronavirus.

      For more information, click here:

      https://www.cnn.com/2020/03/25/politics/stimulus-senate-action-coronavirus/index.html

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