Markets on both sides of the Atlantic had a good day on Monday, largely driven by optimism after President Trump signed the $ 900 billion assistance package.
The $ 900 billion of the U.S. economy aid plan will be unblocked after President Donald Trump ratified the text on Sunday, out of a week of comings and goings.
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These are the details of the initiative:
homes
Poorest households will receive a check for $ 600 per adult and per child, subject to income (up to $ 75,000 per year per person, or $ 150,000 for a married couple), for a total of $ 166 billion .
Payment of unemployment benefit will run until March 14 (with an additional four weeks for those who have not exhausted their rights), and will again cover workers who usually cannot claim it, in particular informal drivers and distributors. .
These measures were adopted at the end of March, because each state pays the classic unemployment benefits, for six months in the case of the most generous.
But those measures ended on December 26 and more than 12 million Americans were left with overnight incomes.
Another measure, which expired in late July, has been reinstated: paying an additional $ 300 per week for all the unemployed.
However, this figure is 50% lower than that granted between April and July.
Finally, evictions of tenants who cannot pay their rents are suspended until the end of January 2021, and some $ 25 billion is planned for bank loans to local communities, to help tenants pay the rent.
Childhood and education
While the classes remain virtual for most American students, at least in part of the week, $ 82 billion in particular will be released to allow public and private schools to prepare to receive their students again. , ensuring at the same time their safety and that of the teachers.
A budget of just over $ 10 billion is also planned for daycares and other establishments that accommodate the little ones.
Low-income children will receive a special assistance program that will include feeding.
Fight against COVID-19
The text provides just over $ 55 billion to fund coronavirus testing and screening, but also to accelerate vaccination and continue research through various programs.
companies
A total of US $ 325 billion will be allocated to small and medium-sized enterprises (known as PPPs), a flagship measure of the Boreal Spring Recovery First Plan.
The measure includes companies with no more than 300 employees whose turnover has been reduced to at least 25% for a quarter in 2020 compared to the same period in 2019.
In the first version, the debt could be canceled if the money was used to pay wages.
In it, its possible uses have been extended to bills and damage suffered during demonstrations against police violence and racial and economic inequalities in the boreal summer.
A $ 16 billion grant aims to save tens of thousands of jobs at airlines and their subcontractors and another $ 2 billion at airports.
To continue to maintain the roads despite the drop in revenue following the pandemic, state and local authorities will receive a total of US $ 10 billion.
And another $ 15 billion will be allocated to rail transportation and bus and subway networks, which have seen ticket sales drop since March.
Heavily punished by the pandemic, cinemas, theaters, concert halls and independent cultural institutions will benefit from US $ 15 billion.
And $ 10 billion will be used to support the U.S. Post Office, the USPS, financial difficulties are old but have been exacerbated by the pandemic and the election campaign.