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.
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