U.S. leaders say the economic impact due to the coronavirus will be significant. Louisiana Senator John Kennedy says the federal is working on a bill that will lessen that economic impact by sending money to every American and business owner.
“Within the next few days we are going to pass $250 billion worth of government-guaranteed loans for small businesses to keep them afloat,” said Kennedy. “The idea is to have them continue to employ people. Don’t lay anybody off if you don’t have to unless you have to. We are going to send every American under a certain income limit, it will be means-tested, $2000 I think the first $1000 will go out sometime in April,” said Kennedy. The checks will be distributed through the Internal Revenue Service costing about $500 billion dollars according to Senator Kennedy.
“We got to do because this is going to be over,” Kennedy says. “But it is going to be over and not everyone is going to die. And most of us are not going to get sick. But when its over we have got to have an economy to go back to.” Kennedy adds, “If you are a small business, or a restaurant, or a hardware store, or you are a law firm or even a medical practice, and all your employees are gone and you are out of capital, you can’t just snap your fingers and turn the economy back on.”