The bill includes the following:
- Tax free payments to individuals of up to $1,200; $2,400 for married couples and additional $500 for children under the age of 16. Amount of payments are dependent on adjusted gross income. No eligibility if:
- Individuals earning $99,000 or more
- Married couples earning $198,000 or more;
- Employees will be entitled to an additional $600 of weekly unemployment benefits in addition to the amount they are entitled to from their State. Part-time employees and independent contractors, even if not covered under their State law, will be entitled to these federal payments, as well;
- $377 billion in loans and grants for small businesses;
- $500 billion in loans for struggling businesses;
- $150 billion for hospitals treating coronavirus patients;
- Defers student loan payments for six (6) months; waives interest;
- Foreclosures and evictions are stayed where mortgages are backed by the federal government.
