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March 27, 2020 02:47 PM

House passes $2 trillion coronavirus stimulus package

Tire Business Staff
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    WASHINGTON — By voice vote, the U.S. House of Representatives passed a bill designed to provide $2.2 trillion to workers, small businesses and corporations harmed by the effects of the COVID-19 pandemic.

    U.S. Rep. Thomas Massie, R-Ky., was the only opponent of the financial package in the March 27 vote, on the grounds that it added to the deficit.

    Among other things, the coronavirus bill offers direct payments of up to $1,200 for individuals and $2,400 to couples; a $500 billion lending program for large businesses, states, municipalities and non-profit organizations; and $350 billion in loans to businesses with fewer than 500 employees.

    The Senate passed the coronavirus bill March 26 by a 96-0 vote. The legislation now goes to President Trump, who has promised to sign it.

    Related Article
    COVID economic stimulus plan includes $377B in small-business support provisions
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