March 26th Update: Senate passes a $2,000,000,000,000 bill.
I wrote that out just so you could see all those zeros. So, so many.
As we discussed last night, the Senate did pass the Coronavirus Stimulus package which, while it is chock full of more than two trillion dollars worth of stuff, for right now at least, has three items which we believe will affect you:
They’ve increased unemployment insurance by $600 per week.
Additionally, there is the basic income relief portion which will provide one-time checks of $1,200 to Americans with adjusted gross income up to $75,000 for individuals and $150,000 for married couples. Individuals and couples are eligible for an additional $500 per child. The government rebates will be pared by $5 for each $100 of income over those thresholds, completely phasing out for individuals whose incomes exceed $99,000, $146,500 for head of households with one child, and $198,000 for joint filers who don’t have children.
Finally, the bill contains $350 Billion in small business loans. I don’t have any details on how one obtains these loans or on what terms yet, but as always, we will keep you posted.
I’m going to be doing more calls today to check in with everyone and see how you’re doing. I hope to talk to you soon.