Fiscal Response Progresses in U.S. Senate

The U.S. Senate seems poised to pass a revised, bipartisan $2 trillion economic stimulus and coronavirus emergency response package. The text of the bill is not yet publicly available, but major provisions reportedly include expanded unemployment benefits, tax cuts of up to $1200 for every American adult, a $367 billion loan program for small businesses, $150 billion in state fiscal relief, $130 billion for hospitals, and a $500 billion loan facility for industries, cities and states. Related articles:

Comparison of timeline to enactment of the American Recovery and Reinvestment Act of 2009, via Jason Furman (@jasonfurman), formerly Chairman of the Council of Economic Advisors under President Obama:

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