The $2 trillion rescue bill the White House and Senate hatched to lessen the economic pain from the coronavirus crisis is the biggest stimulus in modern U.S. history.
Here’s what’s in it:
• About $500 billion in direct payments to American workers and families:
• Individuals with federally adjusted annual incomes of less than $75,000 would get checks for $1,200.
• Married couples making up to $150,000 would get checks for $2,400.
• Families in qualifying households would get $500 per child.
• About 90% of Americans would qualify for government checks, though the amount decreases for those making more than $75,000 a year, with an income cap of $99,000 for individuals and $198,000 for couples.
• Unemployment insurance benefits would get a $250 billion boost — adding $600 per week to current benefits and covering gig workers such as Uber drivers for the first time.
• $500 billion in subsidized loans for big businesses.
• $150 billion of stimulus spending for states and local governments.
• $130 billion for hospitals.
• Washington Times Staff can be reached at 202-636-3000.