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Jul. 23—In New Mexico, an interest rate cap on specialized emergency loans went into effect in January. Since then, big-bank promoters have endorsed the small-dollar short-term loan products ...
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.
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It also includes increased funding for schools, higher learning institutions, and hospitals. The HEALS Act would fund supplemental unemployment benefits at $200 per week, a reduction compared to the CARES Act's benefit of $600 per week. [11] [12] However, the bill provides a payroll tax credit to businesses equal to 50% of COVID expenses. [13] [14]
The HEALS Act includes increased funding for schools and higher learning institutions, as well as hospitals. The HEALS Act would not provide additional funding for state and local governments short on tax revenue due to shutdowns and business closures, and would also reduce expanded unemployment benefits from $600 per week to $200. [9] [10]
The rate at which people are able to find a new job has plunged, which is one reason the median duration of unemployment — or the amount of time that a newly unemployed person spends out of a ...
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