The amount of information regarding the coronavirus is staggering and constantly changing. As a result, I understand how difficult it can be to tell what steps Congress, and the rest of the federal government, have been taking. Below is a brief summary of what has been done so far, and what to look for as we move ahead into next week.
There are 3 legislative packages that are related to the coronavirus:
1) The first was an $8 billion package aimed at addressing medical emergency preparedness. It was signed into law 2 weeks ago and included money for testing, preventing the spread of the virus, and developing a vaccine.
2) The second package was a $105 billion package signed into law by President Trump on Wednesday, March 18th. This package was focused on Small Business relief. For small businesses (less than 500 employees), it allows 14 days of paid sick leave at 100% (up to $511/week) and 12 weeks of paid family/medical leave for employees whose children can’t attend school or daycare at 2/3 their salary. It also authorizes and funds free testing regardless of health insurance.
3) The third package is being negotiated now between the Senate and the Administration. It will be the largest by far and is estimated to cost between $750 billion to over $1 trillion. Direct payments (referred to in the media as a check) could be included in this package. This bill will also include relief to businesses struggling with the unprecedented, abrupt halt in business across the country. The priorities of the bill also include significant steps to stabilize our economy and protect jobs, and more support for our healthcare professionals and patients fighting COVID-19. A vote in the Senate is expected on Monday.
Congress and the Trump administration are committed to getting Americans the medical and economic assistance they need as quickly as possible.
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