On Friday, after more than three hours of debate, the House of Representatives passed a $2.2 trillion aid bill to offset the economic blow dealt by the coronavirus pandemic.
- The Senate passed a $2.2 trillion economic stimulus bill on Wednesday to bolster the US economy during the coronavirus pandemic.
- After more than three hours of debate, The House passed the bill on Friday afternoon.
- The restaurant industry, which employs 15.6 million people across the US, will takean estimated $225 billion hit because of the outbreak – but the new stimulus bill could offer some relief for restaurants.
- The aid package would offer more than $300 billion in loans to small businesses for payroll, mortgage and rent payments, utilities, and other expenses. Some loans could be forgiven.
- The bill, which still needs to be signed into law by President Trump, would also expand unemployment benefits, allowing laid-off workers to claim an extra $600 per week in benefits.
Source: Business Insider