With Another $3 Trillion Stimulus Package On The Line

[Sergey Golubev]

With Another $3 Trillion Stimulus Package On The Line, Here’s Everything The Government Has Done To Rescue The Economy So Far

With job losses caused by the coronavirus pandemic reaching more than 36 million in just two months, the economy is in uncharted territory. Businesses across the country are shuttered and entire industries are in hot water. The House of Representatives passed the $3 trillion Heroes Act on Friday, in the latest attempt by the federal government to contain the damage. Before that bill reaches the Senate, here’s everything the government has done so far.

The $3 trillion Heroes Act—the sweeping coronavirus rescue bill introduced by House Democrats this week—passed the House on Friday evening. The cornerstone of the bill is $875 billion in additional funding for state and local governments and $20 billion each for tribal governments and U.S. territories. The legislation also includes another $75 billion for testing, new provisions for hazard pay for essential workers, $75 billion in mortgage relief, $100 billion for rental assistance, plus another $25 billion for the Postal Service and provisions for a second round of $1,200 stimulus checks. There’s also $3.6 billion for elections, $10 billion for the Supplemental Nutrition Assistance Program and $10 billion for small businesses. If it passes the Senate in its current form (which it is unlikely to do), the bill’s astronomical price tag would make it the largest piece of stimulus legislation in American history.

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