Industry Reacts to Senate Passage of the Coronavirus Stimulus Package
The $2 trillion coronavirus stimulus package is expected to pass in Congress. The Senate passed the legislation Wednesday evening and the House is set to vote today. The bill includes $250 billion to make unemployment insurance available to more categories of workers and to extend the duration of benefits. About $150 billion will go to states, distributed according to population size. Another $349 billion will be used as loans for small businesses.
Matthew Shay, President and CEO of the National Retail Federation, said, "Companies that were investing, growing and contributing to a vibrant economy just a few weeks ago have been thrust into survival mode through no fault of their own." The Federation spoke on behalf of the retail industry in a press release by expressing appreciation for the efforts by leaders in Congress and President Trump to...
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