History was made today when Donald Trump signed the CARES Act into law, which contains the single biggest economic relief package in American history. The $2.2 trillion stimulus package, which was approved by the House of Representatives earlier today, is supposed to offer temporary relief to individuals and industries struggling due to the coronavirus pandemic.
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On Thursday, a record-breaking 3.28 million people filed for unemployment in the U.S., which is a snapshot of how many people are not working due to the closures of businesses across the country as a method in preventing the spread of the virus.
As concerns about paying rent and putting food on the table grow for millions of Americans across the country, the government expects to get money out to people as soon as possible.
We have broken down the stimulus package by the numbers so you can see who’s getting money and how much. SWIPE to see our breakdown below:
Other highlights of the bill include:
- A suspension of all federal student loan payments and interest until October.
- A nationwide eviction moratorium in place for any renters whose landlords have mortgages backed or owned by the federal government. This is expected to last for 120 days.
- Internet providers and utility companies can legally cut off service during this time though several providers have pledged free Wi-Fi.
Roommates, what are your thoughts on the stimulus packages? Let us know.