How Coronavirus Spending $2 Trillion Stimulus Bill will Help the US Citizens?
By every passing day the number of COVID 19 patients is growing continuously in the US like every other country in the world. But the good thing is that 80% of patients are experiencing mild symptoms of the Coronavirus. Symptoms include fever, sore throat and an initial stage of pneumonia. Little medical treatment could help the patient to recover soon. A better immune system is a key of the recovery cause no cure has been found uptill now. The main problem is for the people who are above 60 years of age or with prior diseases such as diabetes, lungs problem and heart issues.
There are 69121 confirmed cases 1045 deaths till today (last updated 26 March 8:25 a.m. EST source). The increasing number of patients is creating panic among the people. New York and Washington are facing the worst crisis in this latest panadamic. According to Al Jazeera the United States Senate passed a sweeping 2 trillion dollar measure to help businesses, healthcare system workers and their citizens. We hope that this massive amount will help the people to cope up with the crisis in this one of the worst times that the world is facing.
2 trillion dollar will help the most affected people with cash and assistance including businessman manufacturers and Airlines which are hardly hit by the current crisis.According to CNN here we have a list of the means in which this amount will be used.
Direct payments to individuals
Every single American would receive $12,000. Parents will receive $500 for each child under 17 years of age. A married couple will get $2400. There are some rules for the payments for example the people who are making more than $99,000 do not fall in the category of receivers.
Student loan payment suspended
According to the bill There will be no penalty for the student loan borrowers till september 30. CNN reported last week that the Department of Education was planning to reduce the burden on students by accruing interest for at least 60 days without any penalty.
Real ID deadline delayed
Before the coronavirus pandemic october 1 was the deadline for “REAL ID- compliant” Driver’s licence for identification. This real id (federally mandated identification) will be needed By the passengers to board aircraft. But after the pandemic the United States has increased the deadline to September 2021 at least.
$ 500 billion landing program
According to CNN the Treasury Department can provide $500 billion in Investments, loan and loan guarantees. The amount will be distributed specifically. It includes $25 billion for passenger air carriers, $4 billion for cargo air carriers and $17 billion for businesses that work in national security. Remaining $54 billion will be distributed as a loan to businesses state and municipalities (terms and conditions apply)
The biggest effort for unemployment benefits
Under this program the Federal government will give extra $600 a week for 4 months to jobless workers. This amount would be given on top of their state benefits which vary from $200 to $550 a week depending on state .
Businesses own by president and elected officials can’t get money
According to the bill the legislation prohibits “the president, vice president, the head of the Executive department, or a member of Congress and the spouse, child, son-in-law or daughter-in-law will be barred. It means that president Trump would not get money for his personal businesses.
No money for border wall
The National Guards Coronavirus response will get $1.2 billion, as there are 10000 active national guard members. $1 billion is also available for defence purchases. The Pentagon prohibits transferring the amount to the counter-drug account, this account was used to fund Trump’s border wall.
Airlines and airports will get the benefits too
As we all know that the current Coronavirus crisis collapsed the airlines. To help the decimated airline industry this bill has a lot. It includes $4 billion for cargo Airlines, $25 billion for passenger Airlines and $3 billion for industry contractors. This category includes ticketing aircraft, cleaning, baggage, catering etc.
Billions dollars for hospital
Huge chunk of $117 billion is for hospitals. $100 billion is for public health and social emergency funds. In this time of crisis about $5 billion will go to the hospital and the rest will be for doctors, nurses, paramedical staff, suppliers and others.
Good news for workers and contractors
Carnivorous has created a mess for the entire world, not only health but financial crises are also rising with the speed of light. Due to the certain condition the gig workers are considered eligible for Federal aid. It includes Uber drivers, Amazon vendors and other people who play a major part in the digital economy. Uber CEO wrote a letter to President Trump in which he asked for economic support for Uber drivers.
Protections for evictions and foreclosures
This bill will also help the people who are facing a crisis and are unable to pay their mortgages, rents and loans on time. they will get the extended time to make the payments.
$25 million the Kennedy centre
Due to the current crisis people are avoiding gatherings due to this the John F Kennedy Centre for the performing arts in Washington DC has cancelled all their performances. This centre was funded by the ticket revenues. The lack of cash will make them insolvent and they will be unable to reopen. Kennedy Centre closed on March 17 and there is no plan to reopen it till May.
Funds for food assistance
Due to the job losses more people will be dependent on the Emergency Food Assistance program. For this purpose $450 million will be given to the emergency food assistance program. $350 million will be for the additional food and for the distribution there will be $100 million.
Evacuation of Americans
$24 million are for the state department this money is specifically for evacuation purposes. This evacuation could be needed at any time due to the Coronavirus pandemic. Around 13,500 Americans are seeking assistance abroad
Refugees, diplomatic program and peace Corps
This bill includes $88 million dollar for the American volunteers who are sent abroad by the US government agency. The organisation evacuated volunteers last week as it suspended all the operations due to the current Global crisis. According to the director operations will return to normal when the conditions get fine.