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President Donald Trump signed the CARES coronavirus response bill into law today, funneling $2 trillion into additional unemployment benefits, hospitals, small businesses, child care, and more.
“This bill will provide much-needed support and relief to workers, families, small businesses, and communities across the country, and it is a significant improvement over the partisan bill initially proposed by Senate Republicans,” said Rep. Salud Carbajal. “On California’s Central Coast, I’ve been speaking with workers, families, small business owners, health professionals, and more, and I’ve been relaying our community’s concerns back to Washington.”
The stimulus package, which passed the Senate yesterday and the House of Representatives earlier today, is over 800 pages in length. Individuals with Social Security numbers and qualifying adjusted incomes will receive a one-time check from the federal government of up to $1,200, as well as $500 for every qualifying child 16 years old or younger. Eligible workers can also qualify for an additional $600 weekly benefit provided by the federal government for up to four months on top of their state unemployment benefits, which in California maxes out at $450 a week. Although there is speculation as to when the payments begin, the White House has reportedly said some will receive direct-deposit payments in the next three to four weeks. However, those without IRS direct deposit could be left waiting three to four months before receiving their physical checks by mail, according to more conservative estimates.
The bill comes after unemployment claims shot up to an unprecedented 3.3 million claims last week.
Also in the $2 trillion funding are $10 billion in emergency grants for small businesses, $100 billion for hospitals treating patients with the virus, and more. The full bill can be found here.