Here in the US, those in power have been working on saving our country from the disasters this virus has brought with it. That meaning the economic issues and other things of the sort but what exactly does that mean for all of us?
Well, On Wednesday the Senate passed a huge emergency package deal and are working on what is being referred to as an even bigger stimulus agreement of sorts. According to Politico, the Treasury Department has a plan to get around 250 billion dollars in direct payments out to Americans beginning on April 6th. While the 6th is not quite here yet, news of this and other things of the sort have been sweeping the nation.
VICE claims to have actually obtained a document that shows this direct payment system could be more on the 500 billion dollar mark and that checks would also be sent out in May rather than just in April. These payments would be based on income levels and family size above all else but of course, not much is known otherwise. According to VICE, the proposal is about two pages long and things could change drastically as time passes regarding the details.
This, however, is a great starting point and does at least show our government is doing something to make this burden and hardship a little less crippling for all of us. As many different places are shutting down during this virus outbreak others are limiting their hours or struggling to keep products on the shelves for those who need them. Things are getting scarier as time passes and those out of work because of this are quite concerned.
VICE wrote as follows in regard to other areas of this document:
Still, the document shows a starting point, and reveals the contours of Trump’s plan to prop up companies and individuals, as industries across the country have ground to a halt and millions of people have lost or risk losing their ability to work and make an income.
The plan also calls for a $300 billion loan program that could allow small businesses who’ve been disrupted by the outbreak to continue to keep employees on the payroll. The White House wants this only to be available to businesses with 500 or fewer employees, and would allow them to borrow a maximum of $1,540 per employee per six weeks. In exchange, the companies would agree to keep paying employees for eight weeks.
The plan would also free up $50 billion to loan to the struggling airline industry, in exchange for them continuing some service and limiting giving raises to their executives until the loan is fully repaid. Another $150 billion would be made available to help other sectors of the economy that have been decimated by the crisis.
For more information on this please check out the video below. While this is a great means of relief for some it might not make a difference for everyone. Do you think this plan could benefit you?