For companies to help keep their workforce employed:
- A tax credit for companies that retain employees even if they’ve been mandated to close or seen a significant drop-off in business.
- Can defer some employer-side payroll tax payments until 2022.
For Businesses:
- Write-offs for restaurants and retailers
- Expanded deductions for companies with debt.
- Businesses with losses can use those more liberally to offset income.
For those with monthly mortgage payments:
- Borrowers with loans insured by government agencies such as the Federal Housing Administration and the Department of Veterans Affairs would be eligible for forbearance.
- Consumers whose mortgages are backed by Fannie Mae and Freddie Mac would also be eligible to skip payments.
For Workers:
- Unemployment insurance would be expanded to provide an extra $600 a week for four months on top of state benefits, which currently vary in length and amount.
- Eligibility would be expanded to cover workers in the gig economy such as Uber drivers.
- A funding provision to encourage states to waive a waiting period for payment of unemployment benefits.
Source – https://www.bloomberg.com/news/articles/2020-03-26/senate-passes-2-trillion-virus-rescue-plan-sends-bill-to-house?