Senator Tim Kaine says he's proud the the Senate has agreed to a massive, two trillion-dollar COVID-19 stimulus package.
Kaine says there are five main pillars helped by the bill: individuals, small businesses, industry, states and local governments, hospitals and the healthcare system.
Small businesses will be able to apply for loans as well as expanded grant programs. Kaine says revisions to the bill means many of the loans will be forgivable if small businesses keep their employees.
Airlines, hotels and the hospitality industry all need help, Kaine said. But federal dollars can’t be used “unproductively” for stock buy backs or executive compensation.
The stimulus package gives a dramatic investment in hospitals and public health infrastructure.
Individuals would get $1,200 per person or $2,400 per couple, plus $500 per child. These funds would be based on tax returns. These amounts phase out for people who make over $75,000 and disappear at over $100,000.
Kaine said the distribution plan for funds should be worked on as soon as possible and he hopes it will be in a matter of weeks.
The package also includes unemployment benefits of up to four months at full wages.
Kaine said he doesn’t think officials should give people false hope about when things might be able to go back to normal. He wants to listen to scientists as far as public health advice.
When talking about COVID-19 testing, Kaine said he is still dismayed by “abysmal rate” of testing in the United States.
