The Senate has passed a $2.2 trillion aid bill in response to the coronavirus crisis. The bill is expected to be passed quickly by the House and signed by the president.
Members of Congress stuffed a vast array of subsidies in the 880‐page legislation, ranging from $454 billion for big businesses to $25 million for the Kennedy Center in Washington, D.C.
Here are the main spending buckets:
- $454 billion to finance loans to businesses and the states.
- $46 billion in loans and grants to airlines and other specified businesses.
- $377 billion in loans and grants to small businesses.
- $290 billion in stimulus checks for all individuals below an income cutoff.
- $260 billion in expanded unemployment benefits.
- $175 billion in grants to state and local governments.
- $180 billion in health‐related spending.
- $154 billion for education, agriculture, food stamps, housing, and other programs.
- $290 billion in business and individual tax cuts.
Read more at https://www.cato.org/blog/congress-set-pass-22-trillion-coronavirus-bill
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