Trump's Coronavirus Plan Would Gut Social Security
There's no question that the coronavirus disease 2019 (COVID-19) has changed our way of life over the past five weeks. With nearly 500,000 confirmed cases in the U.S. alone and almost 1.7 million worldwide as of one week ago, mitigation measures are absolutely necessary to stem the tide of transmission and protect the well-being of Americans.
But these unprecedented measures have also shut down nonessential businesses and, as of last week, pushed almost 17 million people to file for unemployment benefits. Without federal aid, American workers and the U.S. economy would be in very big trouble.
Last month, on March 27, lawmakers passed, and President Trump signed, the Coronavirus Aid, Relief, and Economic Security (CARES) Act into law. This $2.2 trillion package sets aside $500 billion for distressed businesses, $350 billion for small business loans, $260 billion for an expansion of the unemployment program, and $300 billion for direct stimulus payments to perhaps 175 million working Americans and seniors.
Source Fool.com
