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The one time $1,200 payments were more of a campaign thing than practical policy - remember the physical checks signed by Donald Trump? The real relief package
by NationalPark 6y ago
The one time $1,200 payments were more of a campaign thing than practical policy - remember the physical checks signed by Donald Trump? The real relief package was in the unemployment insurance (the federal government added $600 a week to unemployment payments - huge in poor states where unemployment might be only $250 a week maximum) and in the payroll "loans" that will mostly be forgiven because they went to, well, payroll.
Edit: Maybe my editorializing wasn't well received, but the facts are correct regardless:
The spending primarily includes $300 billion in one-time cash payments to individual Americans (with most single adults receiving $1,200 and families with children receiving more[5]), $260 billion in increased unemployment benefits, the creation of the Paycheck Protection Program that provides forgivable loans to small businesses with an initial $350 billion in funding (later increased to $669 billion by subsequent legislation), $500 billion in aid for large corporations, and $339.8 billion to state and local governments.[6]