It is widely predicted that the US Senate will pass legislation later today to inject approximately $2 trillion into the economy. The sweeping bill is aimed at aiding employees and employers impacted by COVID-19 and is projected to include:
- Expanded Unemployment Benefits – The Senate bill could include up to four months expanded unemployment (UI) benefits at higher rate than the state’s maximum benefit rate, which is $362 per week).
- Checks to Americans – The one-time checks are for Americans who make up to $75,000.
- Business-Relief Provisions – Employee retention tax credits to incentivize businesses to keep workers on payroll during the COVID-19 crisis.
- Liquidity Aid – Up to $500 billion for a major corporate liquidity program through the Federal Reserve.
We are monitoring this legislation closely and will send a full analysis when it is available. In the meantime, please do not hesitate to contact Wendy Block with any questions at firstname.lastname@example.org.