The American economy has had a setback due to the COVID-19 pandemic. Recently, federal government has announced that the stimulus package will help to aid in the bounce back of the financial market. This package, was debated between Democrats and Republicans over the past week, but a bipartisan agreement has now been reached.
The plan to give most American families around $3,000 is set to be the largest stimulus in American history. This is expected to give Americans some relief from lost wages and loss of investments in order to help the economy return to the strength it maintained before the pandemic.
Small businesses including restaurants and entertainment venues have seen a massive drop in revenue. This stimulus package will also help to relieve some of their financial strain by providing loans in order to maintain the cost of doing business. Members of the Senate have also noted that this is the initial plan as they hope to have the economy re-opened as soon as possible.
Coronavirus has had a tremendous impact on various businesses, but many companies have shifted their production to help with relief efforts. For example, many alcohol producers have dedicated facilities to producing hand sanitizers in order to avoid a massive shortage. Other producers have helped to re-stock medical supplies, mainly masks for doctors and nurses.
The stimulus will provide some help for the struggling American families across the country. It is the hope of federal government that this will lead to a larger need for jobs in service based industries that have become more prevalent during the crisis.
Americans United for Values praises the efforts of the Senate to get a deal done that will lead to a positive impact on American lives. Times like these call for unity, and many great American people and businesses are working to provide relief.