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The Centers for Disease Control and Prevention reported Wednesday there are 54,453 Americans either presumed to have COVID-19 or who have tested positive for the virus in the U.S., Puerto Rico, Guam and the U.S. Virgin Islands. At least 737 Americans have died amid the global pandemic. Also on Wednesday, the Federal Emergency Management Agency released a set of guidelines for donors, small businesses and volunteers who want to help relief efforts.
The press briefing followed White House and Senate leaders announcing a $2-trillion stimulus package aimed at providing relief for individuals, families and small businesses affected by the coronavirus pandemic. Larry Kudlow, the Director of the National Economic Council, called the bill the largest Main Street financial package in the history of the United States.
It includes $250 billion set aside for direct payments to individuals and families, $350 billion in small business loans, $250 billion in unemployment insurance benefits and $500 billion in loans for distressed companies. As the plan was being finalized, individuals who earn $75,000 in adjusted gross income or less were set to receive direct payments of $1,200 each, with married couples earning up to $150,000 receiving $2,400, and an additional $500 per each child.
The deal would also provide $130 billion for hard-hit hospitals and $150 billion for cash-strapped state and local governments and ensure the Small Business Administration could serve as a guarantor for loans of up to $10 billion for small businesses so they could maintain payrolls and pay off debts.
One provision in the bill also blocks President Donald Trump and his family, as well as other top government officials and members of Congress, from getting loans or investments from Treasury programs in the stimulus, according to Senate Minority Leader Chuck Schumer (D-N.Y.).
