In an effort to boost the economy and provide financial relief to Americans who are feeling the burden of the coronavirus pandemic, Congress passed a stimulus package that will provide financial assistance to individuals and businesses.
On Friday, President Trump signed the $2 trillion CARES act, which will provide much-needed relief to individuals, families, small businesses and big corporations who have been sidelined by the COVID-19 pandemic.
In addition, it provides financial assistance to the healthcare industry who is in the middle of the coronavirus battle and provides financial assistance to state and local governments.
According to the bill text and some estimates from the government and administration, here's where most of the money is going:
—Big Corporations: $500 Billion
—Small Businesses: $377 Billion
—State and Local Governments: $339 Billion
—Hospitals and Healthcare: $153.5 Billion
Estimates put the total for individuals and families somewhere around $560 Billion
For an estimate of how much you could receive, use this calculator:
Note that this stimulus check calculator does not address every possible exceptional situation mentioned in the bill. For more information, we encourage you to read the Act itself to find any additional information on the coronavirus relief package.
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