
Out of the $2.3 trillion, $900 billion are part of the relief bill meant to extend unemployment benefits for jobless gig-workers and independent contractors.
According to the new pandemic #SpendingPackage, approximately 12 million people in two key pandemic #unemployment #programs will enjoy benefits for 11 weeks. Additionally, people receiving jobless payments will get a $300 weekly federal boost through mid-March.
The package sends direct #StimulusChecks of $600 to individuals, while eligible families will receive an additional $600 per child - $100 more than Congress gave families in the first round of relief.
Initially, President Trump had threatened to block the bill, which was approved by Congress last week. But after he came under intense pressure from lawmakers on both sides, he finally signed the new #relief #package, averting a partial government shutdown, which would have put millions of employees at risk.
Sources: edition.cnn.com, reuters.com.
This information is prepared for general circulation. It does not regard to the specific investment objectives, financial situation or the particular needs of any recipient.
You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.
This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent. Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of za.capex.com
JME Financial Services (Pty) Ltd trading as ZA.CAPEX.COM acts as intermediary between the investor and Magnasale Trading Ltd, the counterparty to the contract for difference purchased by the Investor via ZA.CAPEX.COM, authorised & regulated by the Cyprus Securities and Exchange Commission with license number 264/15. Magnasale Trading Ltd is the principal to the CFD purchased by investors.