Senate Agrees To Massive Stimulus Bill For Americans
Both sides of the United States Senate has agreed upon an unprecedented stimulus package to help reboot the economy after the COVID-19 crisis.
The plan includes help for unemployment, small businesses and money directly to Americans.
“Everybody has felt the pinch here,” says Congressman Bill Huizenga of Michigan’s 2nd District.
The United States is in a virtual shutdown due to COVID-19 and it is taking its toll on the economy. However some massive relief looks to be on its way. Congress working on a $2 trillion stimulus deal.
“Two trillion dollars, with a T,” says Huizenga, “That is that represents a tenth of the US economy.”
It’s an unprecedented number.
“If you look at what the federal government spent last year total, it was about $3 trillion,” says Huizenga, “So this is over half of everything we spent in all of last year.”
With no clear end in sight, Huizenga says a move like this is necessary to help Americans caught in the crisis.
“This is a little like a takings issue,” says Huizenga, “The government is telling private industry and us, as private citizens, that we can’t go to work.”
In the plan, $350 billion of it will be funding small business loans.
“That’s what we’re going to be seeing is these small businesses going to the bankers that they work with already to implement what we hope is going to be these federal back stops,” says Huizenga.
An additional $250 billion is allotted to go directly to Americans. Payments of $1,200 dollars per adult and an additional $500 per child, possibly as soon as early April.
“There has been discussion of two payments,” says Huizenga, “So I would suspect you would see that first phase coming quickly.”
As with previous stimulus packages, Huizenga says not to save this cash, spend it freely.
“Get out there,” says Huizenga, “Support your local businesses, support your neighbors, support the companies in your neighborhood.”