The coronavirus continues to take the world by storm. The death toll is unfortunately rising. The United States’ coronavirus death toll reached 100 and there are thousands of new infections. Most recently, Idris Elba and 4 Brooklyn Nets basketball players got the virus, including Kevin Durant.
One of the biggest effects of the virus is the number of people out of work. Several schools, universities, colleges, restaurants, clubs, and more have shut down until further notice. Any place that has the potential to hold a large group of people at one time is more than likely going to close its doors.
With that being said, people are stressed about their financial situation. Can bills continue if you aren’t working? The Trump Administration has a response that will certainly help Americans out.
The Washington Post reported that “the Trump administration wants to send direct cash payments to Americans in the coming weeks to help them cope with the economic ravages of the coronavirus.” Some people are lucky to still have a job because several companies have laid off workers already.
This mini-stimulus package could cost around $1 trillion. However, it could really help boost the economy at a time where it seems like everything is going downhill. Credit is due to this administration for their quick response. The coronavirus pandemic has negatively affected businesses, no matter how big or small. Pretty soon, the Fortune 500 companies will feel a sting in their profit too.
Coronavirus Checks Are Coming
Treasury Secretary Steven Mnuchin said “we’re looking at sending checks to Americans immediately. And I mean now, in the next two weeks.” The Trump Administration also wants the package to help assist small businesses and the airline industry.
Out of the $1 trillion, $50 billion would go to airlines. In two weeks, a lot can potentially change. However, high-income households might not be eligible for this money. The details are still being sorted out.
While we don’t have a specific date, it is encouraging to know that help is coming. This difficult period will not last forever.