March 25, 2020
The Senate and White House have agreed to a $2 Trillion package that includes much needed relief, loans, and grants. There are a lot of details that are unclear at this time, and details will come out more today.
This package goes along with the $4 Trillion Federal Reserve backstop that was put in place on Monday. The combined packages are equivalent to 28% of the US GDP. Knowing our government is guaranteeing debt and businesses, will keep our economy from going into a tailspin.
In the briefings we have received from the US Chamber, included in this package is significant small business loan availability. Before you jump and say you can't afford these loans, the idea is for our small businesses to hire back their employees, instead of putting them on layoff. The loans would be forgiven after a certain period of time. This will keep your team together, so when this all does end, and it will, you won't have to struggle to find your staff. Obviously, before you do anything, let's wait to see the details.
There are things to like, and dislike in all of these stimulus packages. However, some people in YOUR government are actually getting things done. Keep an eye out as these details are rolled out. Let's now hope the US House agrees so the President can sign this. I would suggest that you contact our representative, Debbie Dingell - her email link is:
CLICK HERE
