University of the Pacific 2 Trillion Dollar Coronavirus Package Discussion

User Generated

unz95355

Humanities

University of the Pacific

Description

This discussion writing assignment is to develop 3-5 paragraphs to support your statement and thoughts about the 2 trillion dollar coronavirus package (Times Roman, 12pt font, double-spaced) .

Here's what's in the $2 trillion package, the largest in U.S. history: Please discuss thoughts and options

  • Direct payments of $1,200 to most individuals making up to $75,000, or $2,400 for couples making up to $150,000. Each dependent child increases the amount by an additional $500. The amount decreases for individuals with incomes above $75,000, and payments cut off for those above $99,000.
  • Expanded unemployment benefits that boost the maximum benefit by $600 per week and provide laid-off workers their full pay for four months. Eligibility is extended to independent contractors and the self-employed.
  • $367 billion in loans for small businesses
  • $150 billion for state and local governments
  • $130 billion for hospitals
  • $500 billion in loans for larger industries, including $25 billion for passenger airlines; $4 billion for carriers; $3 billion for aviation contractors and $17 billion for "businesses critical to maintaining national security.
  • Creation of an oversight board and inspector general to oversee loans to large companies
  • Measure prohibiting companies owned by President Trump and his family from receiving federal relief
  • $25 million for the John F. Kennedy Center for the Performing Arts
  • $400 million for election security grants

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Explanation & Answer

Attached.

Running head: 2 TRILLION DOLLAR CORONAVIRUS PACKAGE

2 Trillion Dollar Coronavirus Package
Name
Institutional Affiliation

1

2 TRILLION DOLLAR CORONAVIRUS PACKAGE

2

2 Trillion Dollar Coronavirus Package
Coronavirus pandemic has affected all sectors of the economy in all countries in the
world. However, some countries have been affected more than others have. Among the effects of
coronavirus initiation of lockdowns, stay home and social distancing measures that negatively
affected businesses. The education sector was affected after closure of learning institutions,
closure of some non-essential services and industries. The situation led to job losses and
redundancies as supply chain was affected and consumer demand reduced both at domestic and
international level. In response to the economic challenges, the U.S federal government released
a stimulus package in late March 2020 worth 2 trillion dollars. The rationale of stimu...


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