While we don’t know the particulars of the stimulus package
being voted on today, here is a brief summary of the information the Minority
Leader Chuck Schumer sent to colleagues early Wednesday.
Here’s what’s in the $2 trillion package:
• Direct payments of
$1,200 to most individuals making up to $75,000, or $2,400 for couples making
up to $150,000. The amount decreases for individuals with incomes above
$75,000, and payments cut off for those above $99,000.
unemployment benefits that boost the maximum benefit by $600 per week and
provides laid-off workers their full pay for four months
• $367 billion in
loans for small businesses
• $150 billion for
state and local governments
• $130 billion for
• $500 billion in
loans for larger industries, including airlines
• Creation of an
oversight board and inspector general to oversee loans to large companies
• Measure prohibiting
companies owned by President Trump and his family from receiving federal relief
We will inform accordingly
as more information becomes available and the specifics that will impact our
industry and our clients.