A coronavirus stimulus plan is finally on the way following a vote on the proposition coming later on Wednesday.
- The total plan will bring $2 trillion in aid to people, companies and organizations suffering due to the coronavirus from China.
- The funding will be split with $250 billion going to individuals, another $250 billion for unemployment benefits, $350 billion as loans for small businesses and $500 billion as loans for other companies.
- The funding for individuals includes $1,200 per adult, so long as they make less than $75,000 per year, as well as $500 per child.
- Unemployment benefits, including healthcare, also got a boost from the package and a new change allows the funding to cover freelance and other gig workers.
- Small businesses are able to take out loans through the coronavirus stimulus plan, but must agree to not lay off workers when they do.
- Large companies can also seek help, but there are restrictions that keep them from buying their own stock with money from the loans.
- To go along with this, businesses owned by President Donald Trump, members of Congress, other government leaders or their immediate family members, cannot receive aid from the plan.
- Hospitals will also be getting help from the government with $100 billion in the coronavirus stimulus plan set aside for them.
- Democrats were also able to push for extra funding in the bill, which includes $25 million for the John F. Kennedy Center for the Performing Arts, as well as $75 million each for the National Endowment for the Arts and the National Endowment for the Humanities.
- The vote on the bill will likely be held by voice as Senate members continue to stay home during the coronavirus spread.
As of this writing, William White did not hold a position in any of the aforementioned securities.