SECURING EMERGENCY RELIEF: President Donald J. Trump is signing bipartisan legislation to provide relief to American families and workers during the coronavirus outbreak. The President worked with Congress to secure bipartisan legislation that will provide emergency relief to families and small businesses that have been impacted by the coronavirus. This unprecedented relief package totals more than $2 trillion. The CARES Act provides much needed economic relief for American families and businesses who are hurting through no fault of their own. This legislation will provide assistance to America’s heroic healthcare workers who are on the frontlines of this outbreak. $100 billion will go to healthcare providers, including hospitals on the front lines of the COVID-19 pandemic. $27 billion will go to bolstering life-saving capabilities, including developing vaccines and the development, purchase, and distribution of critical supplies. $45 billion will go to the Federal Emergency Management Agency Disaster Relief Fund, more than doubling the amount available to support the President’s Emergency and Disaster Declarations to empower State, local, and tribal leaders to effectively respond. SUPPORTING FAMILIES: This legislative package brings security to American families by providing them with economic assistance during this time of crisis.
This legislation provides tax free payments—treated as a refundable tax credit—to Americans, giving families the immediate financial support they need. Couples earning up to $150,000 will receive $2,400, plus an additional $500 for each child. Individuals earning up to $75,000 will receive $1,200, plus an additional $500 for each child. These payments will phase out for those earning over $75,000, $112,500 for head of household filers, and $150,000 for married couples filing joint tax returns. The legislation provides relief for homeowners and renters, ensuring that Americans’ homes are not threatened by the coronavirus.