Trump Administration Details Economic Actions Related To Coronavirus
Washington, DC — The Trump Administration has put out a list of bullet points, highlighting federal actions taken, to help workers and businesses impacted by COVID-19.
Relief for Americans whose jobs have been impacted by the coronavirus.
· The President helped secure legislation to allow states to temporarily increase unemployment benefits for workers who have lost their jobs.
o This legislation provides an additional 13 weeks of benefits and creates a new program to help the self-employed and independent contractors who become unemployed.
· American workers and their families will be receiving direct payments to help provide financial relief during this crisis.
o Individuals earning up to $75,000 will receive checks of up to $1,200, plus an additional $500 for each child. (Many earners over $75,000 will receive a reduced amount)
Support to help small businesses keep workers on payroll.
· President Trump signed legislation to launch the Paycheck Protection Program, providing nearly $350 billion in loans to small businesses to help cover payroll and other costs.
· The Administration is offering enhanced disaster assistance loans and other forms of assistance for small businesses that have lost revenue as a result of the coronavirus.
· This support is critical to help businesses stay operational and keep workers employed.
Providing financial relief for American families during the coronavirus outbreak.
· The Treasury Department moved Tax Day from April 15 to July 15, lifting a burden on families and small businesses across the country.
· The Administration is halting foreclosures and evictions for families with FHA-insured mortgages.
· The USDA is working with the private sector to make sure children have access to quality meals during school closures.
· The Department of Education has set interest rates on all federally-held student loans to 0% for at least 60 days.