Washington, D.C. – A bipartisan agreement to approve a $2 trillion stimulus bill expanding resources for Americans impacted by the Coronavirus was reached by Congressional leaders and the Administration last night, reported the Armenian Assembly of America (Assembly).
Based on the reporting about the bill, which is expected to reach the President’s desk later this week, the package will provide a one-time direct payment of $1,200 for individuals, $2,400 for couples and $3,000 for a family of four. The payments will phase-out based on income levels and end for those individuals earning more than $99,000 annually or married couples making $198,000 or more.
In addition, unemployment benefits would be expanded by including people who were furloughed, gig workers and freelancers, with an increase in payments by $600 per week for four months in addition to what states provide. The bill also provides $150 billion for hospitals and other health-care providers for equipment and supplies and also makes over $300 billion available to aid small businesses.
“Like all Americans, we are doing our part to navigate through this unprecedented time. We are proud to see that communities across the country are coming together and helping one another,” stated Assembly Co-Chairs Anthony Barsamian and Van Krikorian. “As a nonprofit organization and with many Armenian Americans engaged in small businesses, we also know all too well the realities of the economic challenges before us. As such, we are pleased to continue to provide updated information and resources that can help individuals, families, organizations, and businesses that have been impacted,” they continued.
The Assembly previously shared links to helpful resources and will continue to do so.
Armenian Assembly identified resources to help those affected by the COVID-19 crisis.
U.S. Federal Assistance:
• U.S. Small Business Administration (SBA) – Small Business Guidance & Loan Resources.
• Federal Housing Finance Agency – Relief for Homeowners.
• Unemployment Benefits in Your State – How to Apply (Note: All 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands are located under “Select a State”).
• U.S. Department of Veterans Affairs – Coronavirus FAQs: What Veterans Need to Know.
• Internal Revenue Service (IRS) – Coronavirus Tax Relief.
• U.S. Department of Labor – Employee Paid Leave Rights.
• U.S. Department of Education – Information, and Resources for Schools and School Personnel.
• Federal Student Aid – Forbearance Info for Students, Borrowers, and Parents.
• National Institutes of Health (NIH) – Updates and Resources from NIH.
• Centers for Disease Control and Prevention (CDC) – COVID-19 Resources.
- CNBC – Here’s what’s in the $2 trillion coronavirus stimulus bill
- Business Insider – California governer announces deal with most major banks to waive residential mortgage payments for 90 days.
- New York Times – Your Money: A Hub for Help During the Coronavirus Crisis.
- Los Angeles Times – Deal reached on $2-trillion coronavirus stimulus bill — largest by far in U.S. history.
Established in 1972, the Armenian Assembly of America is the largest Washington-based nationwide organization promoting public understanding and awareness of Armenian issues. The Assembly is a non-partisan, 501(c)(3) tax-exempt membership organization.