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What To Know About The $1.8 Trillion CoronaVirus Stimulus

Video Credit: Wochit - Duration: 00:48s - Published
What To Know About The $1.8 Trillion CoronaVirus Stimulus

What To Know About The $1.8 Trillion CoronaVirus Stimulus

The federal government is set to give a bailout to industries hardest hit by the coronavirus pandemic, from airlines to tourism.

A bailout is not strictly free money from the government, and could come in the form of loans or grants with limitations.

Business Insider explained the details of the bailout bill.

A $500 billion fund proposed in current legislation to help industries like airlines and tourism.

According to a report from Politico, the bill has come under fire from Democrats who say that the fund lacks critical oversight.

The National Restaurant Association asked the White House and Congress for a $145 billion recovery fund to pay employees and maintain financial obligations.

The American Hotel & Lodging Association requested $250 billion, according to a report by USA Today.

The association is seeking $150 billion for companies to pay employees and loans, and $100 billion for suppliers.

The coronavirus bailout is set to be much more costly than the Wall Street bailouts during the Great Recession.

The Great Recession bailouts were highly criticized as the government rewarding bad behavior by the banks.

Politicians are insistent that this bailout comes with regulatory strings attached.

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