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524 People Prayed
1527 People have read this article

TRUMP SIGNS $2T STIMULUS PACKAGE–WHAT’S IN IT?

Father, we pray that our leaders would be wise in their decision-making.

UPDATE:  The CARES ACT passed the House by voice vote Friday, and has now been signed by President Trump. Read the summary of the CARES Act.

Here’s a look at who’s getting what in the bill:

Beefed-up unemployment benefits

People who are unemployed would get an extra $600 per week for up to four months, on top of state unemployment benefits to make up for 100 percent of lost wages. The final agreement provides an extra month of unemployment benefits than what Senate Republicans had originally sought.

Loans to industries: $500 billion

 The Treasury Department would divvy up a $500 billion pot of loans to struggling industries like airlines, and even cities and states.

Checks on the way for Americans

All U.S. residents with adjusted gross income up to $75,000 ($150,000 for married couples) would get a $1,200 ($2,400 for couples) “rebate” payment. They are also eligible for an additional $500 per child. The payments would start phasing out for earners above those income thresholds and would not go to single filers earning more than $99,000; head-of-household filers with one child, more than $146,500; and more than $198,000 for joint filers with no children.

Hospitals get $100 billion

Health care providers would secure $100 billion in grants to help fight the coronavirus and make up for dollars they have lost by delaying elective surgeries and other procedures to focus on the outbreak. They would also get a 20 percent bump in Medicare payments for treating patients with the virus.


Aid to airlines: $58 billion

Airlines would receive $29 billion in grants, and $29 billion in loans and loan guarantees, as well as a reprieve from paying three of their major excise taxes on the price of a ticket, the fuel tax, and a cargo tax. That funding comes with strings, though — no stock buybacks, and limits on executive compensation, to start. Half the funds would go toward “the continuation of payment of employee wages, salaries, and benefits” while the other half would go to loans and loan guarantees for passenger airlines, repair stations and ticket agents — subject to conditions.


The prize for retaining payroll

Businesses would get a tax credit for keeping idled workers on their payrolls during the coronavirus pandemic, so long as the businesses meet certain criteria. They would get a refund for half of what they spend on wages, up to $5,000 per worker.


State and local governments: $150 billion

The agreement would provide $150 billion for state and local governments, with $8 billion set aside for local governments, which are bleeding tax revenue as only essential businesses remain open and unemployment claims climb by the tens of thousands every day.


Pentagon to get $10.5 billion

The Defense Department would field an infusion of $10.5 billion, including $1.5 billion for the National Guard to deploy up to 20,000 on-call soldiers to help state response teams fight the coronavirus over the next six months. The bill would also spend $415 million on research and development work at the Pentagon, aimed at developing vaccines and antiviral medicine.

Employers and self-employed individuals

They would get to defer the 6.2 percent tax they pay on wages that is used to fund Social Security.


Cruise industry relief

The deal does not appear to include any direct funding for the ailing cruise ship industry, which has been devastated by the pandemic.


Retail tax fix

Retailers, restaurateurs, and hotels will be able to immediately deduct from their taxes what they spend on property improvements. They were supposed to get the write-off in the 2017 tax overhaul, but a glitch actually made them worse off.


Propping up the postal service

The final bill would provide the already-underwater U.S. Postal Service with a $10 billion Treasury loan to stave off total insolvency, but not a direct infusion of emergency cash. House Democrats had wanted a $25 billion appropriation to keep the federal carrier going amid the pandemic, in addition to language that would wipe out its $11 billion debt.

Food stamps and child nutrition allotted $25 billion

The stimulus includes nearly $25 billion for food assistance, including nearly $16 billion for SNAP and nearly $9 billion for child nutrition.

Relief for farmers, ranchers—$24 billion

Nearly $24 billion, including $14 billion for an obscure Depression-era financial institution that USDA has wide discretion to use to stabilize the farm economy. Another $9.5 billion would be set aside for emergency aid for the agriculture sector, including cattle ranchers and fresh fruit and vegetable growers.

Emergency assistance for schools provides $30 billion

The final package provides more than $30 billion in emergency education funding for colleges and universities, states and school districts.

Unfortunately, what was also contained in the CARES bill is a grab-bag of high-dollar aid for left-leaning organizations, including $25 million for The Kennedy Center, $150 million to the National Endowment for the Arts and the National Endowment for the Humanities combined,  $75 million for the Corporation for Public Broadcasting, $13 million for Howard University, and $50 million for The Institute of Museum and Library Services.

(Politico, FOX News, and IFA Staff contributed to this report.)

524 People Prayed
1527 People have read this article

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5 Replies to “TRUMP SIGNS $2T STIMULUS PACKAGE–WHAT’S IN IT?”

  1. PaPa God, thank You for giving Pres. Trump, VP Pence and the Task Force the wisdom and knowledge in fighting this demonic spirit (coronavirus-Covid-19). PaPA God Your word is true, when it tells me in Luke 10:19 that Jesus has given all His children His authority to trample on snakes and scorpions (demons and evil spirits) and to overcome ALL the power of the enemy, nothing will harm you. You also said that in Isa. 54:17 No weapon forged against you will prevail. The enemy Coronavirus-Covid-19 is trying to wipe out America because of what You are doing thru Pres. Trump and His Task Force which is also all of us who are doing out right Warfare against the enemy. But we know Your word also tells us in 1 John 4:4 Greater is He who is in us that he who is in the world. PaPa God You have call America to be a light in this dark and evil world and I thank You that You are using Pres. Trump and His team to be that LIGHT in the midst of the darkness. Thank You PaPa God for waking us (christians) up again. Forgive us for all our sins, for not obeying Your word. You are waking up the sleeping giant. Praise Your holy name. PaPa God please continue to keep Pres. Trump in the palm of Your hand and continue to use Him and His team to destroy the works of the enemy. Please give them all the rest and protection they need to fight against the enemy, keep them healthy and strong. PaPa God please let Pres. Trump have another 4 years in office because I do believe that You have a lot more work for Him and VP Pence and all those in His administration to finish. I pray in the Name of Jesus Christ of Nazareth. PSA.91 Barbara from MA

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  2. Lord I thank you that the Stimulus package was signed by President Trump after a successful vote. Lord may we as a nation cry out to You for wisdom on what we need to learn from our suffering, sacrifices and possible health risks. Lord may we repent of our sins, turn from our wicked ways so You will heal our land. I pray for President Trump, VP Pence and the people in the Covid-19 Task force, and our Government for Your will in: Word of Wisdom- (Your godly wisdom), Words of Knowledge( they be rooted in Your Word), Have the gift of Faith – Special faith to Trust You when others say it is impossible. (Churches full on Easter for Worship). Prophecy -The ability to use God’s Word to encourage, build up, exhort and caution others. Discerning of Spirits -Having the knowledge of how Satan is working His way in Nations, people, Governments, etc. Lord that they may speak the Truth – no gossip, backbiting and protection from sinning with their tongues. 2 Tim. 2:3 Endure hard times as a good soldier of Jesus Christ. 2 Tim. 6:20 O_____ guard that which is committed to your trust. Avoid profane babbling and oppressing views from so called knowledge. …. Grace be with you. In Jesus name I pray. Amen
    Psalm 91 and Eph. 6:10-17 over each one of them.

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