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Senate Leaders Reach Deal on $2T Stimulus Package

first_img The Best Markets For Residential Property Investors 2 days ago Related Articles Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. The Best Markets For Residential Property Investors 2 days ago Previous: Bouncing Back from Bankruptcy Next: GSEs Launch Mortgage Deferment Programs Servicers Navigate the Post-Pandemic World 2 days ago Coronavirus Stimulus package 2020-03-25 Mike Albanese March 25, 2020 2,030 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post in Daily Dose, Featured, Government, Newscenter_img Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: Mike Albanese Tagged with: Coronavirus Stimulus package Senate Leaders Reach Deal on $2T Stimulus Package Share Save Home / Daily Dose / Senate Leaders Reach Deal on $2T Stimulus Package Numerous reports say Senate Democrats and Republicans have agreed to a stimulus package that totals more than $2 trillion early Wednesday morning. “At last we have a deal,” Senate Majority Leader Mitch McConnell said Wednesday on the chamber’s floor, according to Bloomberg. “I’m thrilled that we’re finally going to deliver to the country.”Bloomberg reports Senate Democratic leaders Chuck Schumer called it an “outstanding agreement.” McConnell is still drafting the legislation and the Senate will need to vote on it Wednesday. The bill would still have to pass the House before it can be signed by President Donald Trump. According to reports, the plan includes about $500 billion that will be used to back loans and assistance to companies, with also $50 billion for loans to U.S. airlines and state and local governments. It also has more than $350 billion in aid to small businesses and $150 billion in aid for hospitals. Bloomberg reports the package provides direct payments to lower-and-middle incomes Americans of $1,200 for each adult and $500 for each child. Unemployment insurance will also be extended by four months. CNN reports that Americans who earn $75,000 in adjusted gross income would get direct payments of $1,200 each and married couples would get $2,400 each. Single Americans making more than $99,000 will be phased out of the payment plan and $198,000 for couples without children. Talks of a stimulus deal on Tuesday gave stocks their highest percent gains since 1933. The Dow Jones on Tuesday rose 11%—2,112.98 points—to 20,704.91. The S&P 500 grew 9.4% and had its best day since 2008. The Nasdaq Composite increased 8.1% for its best day since March 13. Both the Dow and S&P 500 were coming off their lowest levels since late 2016.CNBC states the Dow fell 582.05 points, or 3%, on Monday to a new three-year low. It was on pace for its worst calendar month since 1931. Sign up for DS News Daily Demand Propels Home Prices Upward 2 days agolast_img read more