$1,200 stimulus checks for all? What to know about the US coronavirus bailout
Agreement reached early on Wednesday will give money to most Americans, small-business loans and help for hard-hit industries
With large areas of the US shut down, stock markets crashing, industries facing collapse and soaring unemployment, the US government is set to pass the most expensive bailout in US history in attempts to save the US economy.
Democrat and Republican leaders of Congress, along with White House officials, have been scrambling to make a deal in around-the-clock negotiations and finally announced early on Wednesday that they have reached an agreement. The Senate is expected to vote on the bill on Wednesday.
Direct payment to most Americans.
$250bn to bolster unemployment insurance.
$350bn in loans for small businesses that may be forgiven if firms use them to keep workers on payroll.
$500bn in aid for hard-hit industries and states and $50bn for airlines.
$130bn in aid to hospitals.
$150bn to help state and local governments.
This article was amended on 26 March 2020. The plan is for individuals to get up to $1,200 and married couples to get up to $2,400, plus an additional $500 for each child, not including $500 for each child.
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