President Donald Trump signed the $2.2 trillion coronavirus stimulus bill. The House passed the legislation by voice vote earlier today.  The law that President Trump signed is pretty much the same version that the Senate passed two days ago.  The House did not make any significant changes.

House Speaker Nancy Pelosi and her Democratic colleagues had significant concerns about the $500 billion that will go to multi-national businesses.  However, the Pandemic Response Accountability Committee seems to placate Democrats’ fears.  The sole responsibility of the Committee is to overlook how the proposed $500 billion funds for businesses will be spent.

We already detailed who gets what in previous articles.  Here’s a recap:

Direct payment to Americans

According to general information, the package will allocate $250 billion for direct cash to individuals and families. Direct cash payments will be up to $1,200 for individuals, $2,400 for married couples, and $500 per child, reduced if an individual makes more than $75,000 or a couple makes more than $150,000. 

Up the Unemployment Insurance Duration

Another $250 billion will set aside to allow people who lost their job, including self-employed individuals. To claim up to 4 months of unemployment insurance.

Cash Grants & Loans to Multi-national corporations

Airlines, hospitals, and defense contractors are all begged for needed resources to battle the Covid-19 pandemic.  Republicans and the Trump administration want to give them access to up to $500 billion in the form of cash grants and loans.   What strings to attach or not attach is what might hold the coronavirus stimulus package in the House.

The COVID-19 crisis forced federal and state governments to take unprecedented measures, including a by-partisan $2.2 trillion coronavirus stimulus bill.  In a latter article, will fine-comb the legislation and inform you about its details, fine prints, and terms