The Senate has passed the “Coronavirus Aid, Relief, and Economic Security Act” or the “CARES Act,” a $2 trillion stimulus package which includes stimulus for large and small businesses and for families.
The legislation needs to go back to the house for approval and then to the President’s desk to be signed.
Among other things the bill would include checks of up to up to 150 million American families based on income, create loan programs for large and small businesses, fund unemployment insurance programs, boost hospital spending, and more.
The bill passed 96 to 0.
Read more on the WashingtonPost’s “Senate passes $2 trillion bill to blunt coronavirus pandemic’s economic impact, as households and businesses gasp for relief.”
Get a summary of the CAREs Act.