Rescue Package Includes $2400 Checks For Families, $500 for Kids
Senate Majority Leader Mitch McConnell introduced the coronavirus economic rescue legislative package.
The plan largely reflects the proposal outlined earlier by Breitbart news.
- Cash for Taxpayers. The direct cash payments go to taxpayers based on 2018 tax returns. Individuals will receive up to $1,200, with the amount scaling down for individuals earning $75,000 or more. Those earning more than $99,000 will be ineligible.
- More for Families. Married couples will get up to $2,400 and an additional $500 for every child. Payments decline after $150,000 of income, with the cap placed at $200,000.
- Small Business Support. $300 billion for loan guarantees for small businesses.
- Loan Guarantees for Airlines. $50 billion in loan guarantees for passenger airlines and $8 billion for air cargo shippers.
- Other Business Sectors Hurt by Coronavirus. $150 billion for other businesses in areas or sectors hurt by the coronavirus, which is pretty much everyone and everywhere now.
Senate Republicans released their proposal for a third coronavirus relief package Thursday as Washington pushes to try to head off economic disaster.
The 247-page legislation introduced by Senate Majority Leader Mitch McConnell, expected to cost at least $1 trillion, includes cash payments to Americans. The measure — the final form of which will be subject to talks with Democrats and the White House — also includes relief for small businesses and major industries hammered by the global pandemic.