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Coronavirus / Economic Developments

President Trump Discusses Economic Relief Legislation

TrumpPresident Trump shared some of his thoughts on the economic relief legislation under consideration by Congress. Here are some of the highlights of the bill he discussed:

  • The massive $2.2 trillion relief package includes job retention loans for small businesses, with loan forgiveness available for businesses that keep their workers on the payroll.
  • Direct cash payments will be available to American citizens earning less than $99,000 per year. $3,400 for the typical family of four.
  • Expanded unemployment benefits – the average worker who has lost his or her job will receive 100% of their salary for up to four full months.
  • $3.5 billion to expand assistance to childcare providers and childcare benefits to healthcare workers, first responders, and others on the front lines of the crisis.
  • Critical support for the hardest hit industries, with a ban on corporate stock buybacks and tough new safeguards to prevent executive compensation abuse.
  • Over $100 billion for our amazing doctors, nurses, and hospitals.
  • $45 billion for the disaster relief fund, more than doubling the amount available.
  • $27 billion for the coronavirus response, including $16 billion to build up the strategic national stockpile with critical supplies including masks, respirators, and all sorts of pharmaceuticals.

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