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The Coronavirus Aid, Relief, and Economic Security Act, [b] [1] also known as the CARES Act, [2] is a $2.2 trillion economic stimulus bill passed by the 116th U.S. Congress and signed into law by President Donald Trump on March 27, 2020, in response to the economic fallout of the COVID-19 pandemic in the United States.
President Trump signs the Paycheck Protection Program and Health Care Enhancement Act (H.R. 266), April 24, 2020. The Paycheck Protection Program (PPP) is a $953-billion business loan program established by the United States federal government during the Trump administration in 2020 through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to help certain businesses, self ...
In response, Trump signed the $2 trillion Coronavirus Aid, Relief, and Economic Security Act (CARES) on March 27, 2020 which helped maintain family incomes and savings during the crisis, but contributed to a $3.1 trillion budget deficit (14.9% GDP) for fiscal year 2020, the largest since 1945 relative to the size of the economy.
Donald Trump has big plans for the economy — and a big debt problem that will be a hurdle to delivering on them. Trump has bold ideas on tax cuts, tariffs and other programs, but high interest ...
The CBO estimated in a report issued Wednesday that the extension of parts of Trump’s tax cuts set to expire after 2025 would add another $4.6 trillion to the national debt through the year 2034.
In August 2020, the Chinese government enacted new regulations on the amount of debt property developers can incur. The new regulations affected Evergrande Group , China's second-largest property developer, and the Chinese real estate market as a whole. [ 5 ]
The GOP package that failed Thursday would have suspended the debt ceiling until January 30, 2027, addressing Trump’s key demand from his Wednesday evisceration of the original deal.
A related Executive Order 14032 ("Addressing the Threat From Securities Investments That Finance Certain Companies of the People's Republic of China") was signed by President Joe Biden on June 3, 2021. The national emergency declared by E.O. 13959 remains in effect and has been expanded by E.O. 14032.