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Economic Stimulus Proposals in the Time of Coronavirus
Mar 19, 2020 at 03:18 AM

The Quick Facts

  • On Wednesday, the Treasury Department pitched the details of the Trump administration’s $1 trillion economic stimulus proposal to Congress.
  • The plan includes spending $500 billion on two rounds of direct payments to individual Americans, though some people wouldn’t qualify if their income is over a certain level. 
  • The Treasury Department outline says the funds would be paid out in two equal amounts, first on April 6 and then again on May 18.
  • The proposal also includes devoting $300 billion toward helping small businesses, $50 billion to help rescue the airline industry, and $150 billion to prop up other sectors, which could include hotels.
  • The plan, currently being vetted by the Senate GOP, will likely serve as the basis of a third round of legislation aimed at curtailing the effects of the COVID-19 pandemic. Congress has already passed an $8.3 billion emergency spending package for the public health system, as well as a bill expanding paid emergency leave, free coronavirus testing, unemployment insurance, food security and increased funds for Medicaid.

Food For Thought

What should Congress include in upcoming economic stimulus legislation to best combat the fallout from COVID-19? Does the proposed stimulus package go too far, or not far enough?

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