The Federal Stimulus Package has passed and here is the preliminary information that I have received:

  • 4 months of more unemployment insurance instead of 3 months.
  • $55 billion increase in the Marshall Plan for our Health Care System.
  • $150 billion for a state, tribal, and local Coronavirus Relief fund.
  • $10 billion for SBA emergency grants of up to $10,000 to provide immediate relief for a small business operating costs.
  • $17 billion for SBA to cover 6 months of payments for small businesses with existing SBA loans.
  • $30 billion in emergency education funding and $25 billion in emergency transit funding.
  • $30 billion for the Disaster Relief Fund to provide financial assistance to state, local, tribal, and territorial governments, as well as private nonprofits providing critical and essential services.
  • Make rent, mortgage and utility costs eligible for SBA loan forgiveness.
  • Establish robust worker protections attached to all federal loans for businesses.
  • Add a retention tax credit for employers to encourage businesses to keep workers on payroll during the crisis.
  • Provide income tax exclusion for individuals who are receiving student loan repayment assistance from their employers.
  • Saved hundreds of thousands of airline industry jobs and prohibited airlines from stock buybacks and CEO bonuses.

If you would like to read the entire 22 pages, you can download the PDF by clicking HERE.