Treasury Dept. Proposes Coronavirus Aid

March 18, 2020

The Treasury Department has issued its proposal on the next phase of legislation, which would include two, $1,000 payments to certain citizens and would devote $300 billion to government-backed small business interruption loans to help avoid layoffs. The loans under this plan would cover 100 percent of payroll for six weeks with a cap of $1,540 per week per employee. The Treasury Department would promulgate rules and regulations regarding interest rates and conditions for eligibility and repayment.   

No final decision has been made.

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