White House aide Eric Ueland announced early Wednesday that Congress and the White House have agreed on a $2 trillion coronavirus relief bill. The measure will provide aid to businesses, workers and the health care system, as well as individual Americans, and is the largest economic rescue measure in U.S. history. “Ladies and gentlemen, we are done. We have a deal,” Ueland said in the Capitol hallway shortly after midnight.
The package will provide direct payments to most Americans, expand unemployment benefits, and sets up a $367 billion program for small business to continue making payroll. It will also send $500 billion for guaranteed, subsidized loans to bigger industries, including airlines and hospitals. The payout to individuals is expected to be a direct, onetime payment of $1,200 per adult and $500 per child, although it’s unclear exactly who qualifies.
The bill is also expected to create a new inspector general to provide oversight on the money sent to corporations.