Trump Signs CARES Act Into Law

The President has just signed into law, the $2 trillion coronavirus stimulus package, known as the CARES Act.

The historic legislation addresses the most serious of the economic and health consequences of the coronavirus outbreak, with a huge injection of federal dollars and lending capacity.

The 880-page legislation is the largest economic relief bill in U.S. history.

“I just signed the CARES Act, the single biggest economic relief package in American History,” stated the president. “At $2.2 trillion, this bill will deliver urgently-needed relief for our nation’s families, workers, and businesses.”

The President thanked lawmakers on both sides of the aisle for coming together to support citizens across the U.S. during the national emergency.

“I want to thank Republicans and Democrats for coming together, setting aside their differences and putting America first. This legislation provides for direct payments to individuals and unprecedented support to small businesses. We’re going to keep our small businesses strong and our big businesses strong. That’s keeping our country strong and our jobs strong,” Trump said.

The act will expand unemployment benefits, provide immediate help for health care providers and other businesses, and will include a onetime payment to the majority of Americans.

The Coronavirus Aid, Relief and Economic Security, or CARES Act, passed the upper chamber of Congress in a unanimous 96-to-zero vote on Wednesday.

“I’m proud to announce tonight not a single senator voted against this $2 trillion rescue bill to save American individuals, small businesses, larger businesses and to provide considerable funding for the health care workers and the scientists and the doctors and others who are trying to solve this pandemic,” stated Senate Majority Leader Mitch McConnell (R-Ky.).

The bill came on the heels of several days of around-the-clock negotiations between Treasury Secretary Steve Mnuchin and Senate leaders of both parties. Once an agreement was reached, the bill was put to a vote in only 20 hours.

The CARES Act mobilizes an unprecedented amount of funds, estimated at $2.2 trillion, to the purpose of revitalizing the economy and shoring up the financial stability of American individuals and businesses. By contrast, the stimulus plan deployed against the 2008 recession cost $700 billion.

It includes a one-time payment to most Americans. Individuals earning less than $75,000 a year are set to receive $1,200 and couples earning less than $150,000 a year will receive $2,400 plus $500 added on per child.  The payments gradually decrease for individuals above those income level and phase out to zero for individuals earning more than $99,000 a year or $198,000 for couples.

The bill will also create a pool of $350 billion for loans to small businesses to cover employee salaries, benefits and prevent lay-offs. It increases unemployment benefits by $600 a week for up to four months, which will be added on top of current benefits granted by individual states.

The measure will also provide an extra $117 billion in funding for hospitals and veterans’ health care. The bill has been celebrated almost universally among major elements of government in both parties.

President Trump fulfilled on his promise to sign the bill into law, as soon as it hit his desk.

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12 COMMENTS

  1. Great decision mr President! We have to protect our great Country from this pandemic! God Bless you & your family! ✝️🇺🇸🇺🇸🇺🇸

  2. THANK YOU PRESIDENT TRUMP, we are so lucky to have you as our President now and for 4 more years!

    Keep Making America GREAT!

  3. Thank you President Trump and all the Republicans that got this passed.
    Pelosi, and her 180 is not fooling anyone. There is a special place in hell for her and cronies.
    Trump 2020! Drain the swamp!

  4. What happens if we no longer file a tax return as we don’t make enough money H & R Bloch told us not to file a more as of 5 years ago please advise as we need your help

  5. which woman might biden pick as his running mate .? is that legal ? 2. Yes The democrats will being along The coronavirus to 2020 primaries , 3. I’ll have to come back on ratings . Why done Trump need to be re-elect because a) everyone who voted for him know god sent Donald Trump is the know how , Make American Great Again b) Trump Know how to make thing work . c) and HE NOT a Political . I believe Political are go out od style as more Business men come to political .

  6. I am grateful for all that President Trump has done during the Corona virus pandemic. He gets things done despite the Globalist media’s constant harassment.

    I have several concerns. One of the main ones is Dr.Fauci’s attitude about the use of Plaquenil as a treatment. Since President Trump has been in office he has been surrounded by people who have an agenda that do not have the American people as a priority. This has included most of the departments in the executive branch. Nor do I assume that organizations like the FDA, CDC, or National Institute of Health have anymore loyalty to the well-being of the American people. I think this is particularly true when the interests of the people are pitted against the interests of big Pharma. Dr. Fauci ignores the success rate of doctors like Dr.Valdimir Zelenko from New York who has a 100 percent cure rate in treating 699 patients with Plaquenil, Z-pack, and zinc.(Tech Start-Ups, March 28 article) Dr. Fauci has alot of money to do the testing he’s demanding–but apparently isn’t doing it. Furthermore we know the side effects Plaquenil unlike Pharma’s latest anti-viral or the vaccine (which is not a treatment but preventative)

    In the meantime the pandemic is being used as a vehicle to implement the Globalist agenda. The longer it’s prolonged the more irreversible the economic crash. The long held goal of Pharma of making vaccines mandatory is a possible outcome. Literally surveillance of the whole population is being promoted.

    It took too long to replace Jeff Sessions with William Barr. If, in fact, there is an agenda behind Dr. Fauci’s unwillingness to acknowledge the concrete success of the above treatment while simultaneously not starting the testing that he requires to be satisfied, it’s time to look for someone else.
    Thank you for all that you do.
    Linda Heim

  7. The Cares Act means that Pres., Trump is on the job in the front lines of the American worker, American Buisnesses and leading the troops by way of telling them I care about you all.

  8. So how much of my tax dollars are going to illegals that dumbass non american pelosi stuck in there illegal for pete sake

  9. poll the treasury secretary announced the federal income lot filing deadline has been moved to July 15 instead of Ap 15 amid the COVIS-19 PANDENIC will you take advantage of the news filing deadline for federal income tax . yes 75% no 25% . which of the following best describes your politic leaning 38% Conservative 42% moderate 19% liberal . do you personally think the senate did something wrong . 72% yes 22% possibly 5% don’t know people who don’t know are Hillary Clinton who poll her. 2016 is why she lost , not bad is it . . poll . should the bulk of any assist go to individual 43% individual 6% business 48% batheqully .

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