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Understanding the 2 Trillion Dollar Stimulus Package

The Coronavirus (COVID-19) pandemic has put a major strain on every aspect of daily life around the world, including the United States. As the spread of the disease shows no sign of slowing down, there is a steadily increasing concern in the United States regarding the health and wellness of not only our citizens but the economy as well. In response, the United States Congress has been negotiating a historic stimulus package to address the havoc caused by the pandemic. It appears Congress’ hard work has paid off, as they just passed a $2 trillion package to provide a jolt to the economy reeling from the deadly virus. All Americans would do well to understand the package’s provisions, as it will offer direct relief to businesses and individuals alike.

The $2 trillion stimulus package, negotiated by Republican and Democratic leaders, is the largest economic stimulus measure in modern history. The bill is a $2 trillion combination of tax provisions and other stimulus measures, including emergency business lending. The measure promises to provide help for struggling American families and businesses, as well as health care workers on the front lines of the coronavirus outbreak.



Trump Declares National Emergency Over Coronavirus

On Friday, March 13, 2020, President Donald Trump declared a national emergency in response to the new coronavirus (COVID-19) pandemic.
Such a declaration enables individual states and the federal government to more freely allocate financial resources to combat COVID-19. It also allows the president to grant more authority to get around restrictive regulations.

President Trump announced $50 billion in resources to help immediately fight the pandemic, as well as increases in screening and testing access.
Additionally, the president expanded the authority of the director of Health and Human Services (HHS). Specifically, the director can now waive requirements related to: