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4 things to know about the $2 trillion coronavirus relief package

4 things to know about the $2 trillion coronavirus relief package

Clouds pass over Capitol Hill in Washington August 1, 2011. | (Photo: Reuters / Joshua Roberts)

Early Wednesday, the Senate announced that a deal had been reached for a $2 trillion stimulus bill centered on helping the economy recover from the coronavirus pandemic.

The large sum of money will go to a host of programs aimed at preventing the United States from entering a major recession due to the economic impact of the virus.

“At last we have a deal,” declared Senate Majority Leader Mitch McConnell. “After days of intense discussions, the Senate has reached a bipartisan agreement on a historic relief package for this pandemic.”

The bill is not without its critics, as New York Governor Andrew Cuomo, whose state is experiencing a large number of coronavirus cases, argued that the stimulus was not enough.

“What does it mean for New York state?” asked Cuomo at a briefing, as reported by the Hill. “It means $3.8 billion. $3.8 billion sounds like a lot of money, but we’re looking at a revenue shortfall of [as much as] $15 billion.”

“This response to this virus has probably already cost us $1 billion, and it will probably cost us several billion dollars when we’re done.”

Here are four areas in which the $2 trillion stimulus package bill will impact the nation after it is passed. This includes relief checks, funding to businesses, and other financial aid.

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