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Trump Administration Details Economic Actions Related To Coronavirus

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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.

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