Abstract
The U.S. Senate approved an estimated $2 trillion stimulus package to battle the harmful effects of the COVID‐19 pandemic, though concerns with the unemployment provisions remain, according to the National Conference of State Legislature. A few highlights of what's included in the package.
The U.S. Senate approved an estimated $2 trillion stimulus package to battle the harmful effects of the COVID‐19 pandemic, though concerns with the unemployment provisions remain, according to the National Conference of State Legislature. A few highlights of what's included in the package:
Provides an additional $4.3 billion, thorough the Centers for Disease Control and Prevention, to support federal, state and local public health agencies to prevent, prepare for, and respond to the coronavirus.
Creates a $150 billion Coronavirus Relief Fund for state, local and tribal governments.
Provides $30 billion for an Education Stabilization Fund for states, school districts and institutions of higher education for costs related to the coronavirus.
Provides $45 billion for the Disaster Relief Fund for the immediate needs of state, local, tribal and territorial governments to protect citizens and help them respond and recover from the overwhelming effects of COVID‐19.
Expands unemployment insurance from three to four months, and provides temporary unemployment compensation of $600 per week, which is in addition to and the same time as regular state and federal UI benefits.
Establishes a $500 billion lending fund for businesses, cities and states.