Jul 28, 2020
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About this Deal
On March 27th, the President signed an economic stimulus package called the Coronavirus Aid, Relief, and Economic Security (CARES) Act. As a result, $2 trillion in assistance was paid out to millions of American households in the form of “stimulus checks.”
Now, Congress is making progress toward passing a second stimulus package, and it’s starting to look like there’s a chance it may pass before they adjourn for a month-long recess on August 7. If it passes the House and Senate, the President would still need to sign it for it to become law.
The second potential stimulus package is being called the Help, Economic Assistance, Liability Protection and Schools (HEALS) Act. While the full text of the HEALS Act has yet to be released, it looks like there is a lot more to it than just stimulus payments for individual Americans.
If the HEALS Act passes as written, it would also extend unemployment benefits, freeze Medicare premiums, provide more Paycheck Protection Program (PPP) funding, extend liability protection for businesses facing COVID-19-related lawsuits, and increase funding for schools.