KGUN 9 On Your SideNewsLocal News

Actions

What $2 trillion emergency coronavirus stimulus package means for Arizona

What $2T emergency stimulus package means for Arizona
Posted at 10:17 PM, Mar 27, 2020
and last updated 2020-03-28 01:17:24-04

TUCSON, Ariz. -- President Trump signs a $2 trillion coronavirus stimulus into law, as companies and households brace for more economic pain.

This new economic package amounts to the largest emergency spending measure in United States history.

It is one that lawmakers, like Senator Martha McSally, hope will help some of the coronavirus pandemic’s economic fallout.

“Who knew with the strongest economy in the world, we’d be asking people not to work,” said the Senator.

Senator McSally says she is relieved that help for millions of workers, families, and small businesses is on the way.

“We've worked round the clock in order to make sure that this support was coming to Arizonans and their families. For everyone who made less than $75,000 last year, you will get a check or direct deposit for $1,200. As a couple with two kids, it will be $3,400 dollars because it’s $1,200 for you, $1,200 for your spouse, and then $500 per child,” she added.

THIS APPLIES REGARDLESS OF WHETHER OR NOT YOU’VE BEEN LAID OFF.

“Now if you’ve made between $75,000 and $99,000, you get something but it’s going to be phased out. And you get zero above $99,000,” the Senator told KGUN9.

She says the economic boost will also increase unemployment benefits.

“In Arizona it's $240 a week right now, maximum. We’ve passed that up by $600. So that’s $840 a week and we have expanded who it applies to. So it also includes independent contractors, self-employed, part-time employed, gig economy workers,” she said.

In terms of small businesses, it is providing forgivable loans.

Here’s what it means for those that have one to 500 employees.

“You can go into your local bank or credit union and you then can use that to pay for payroll, pay salaries, and pay for overhead. So things like rent, mortgage, and utilities,” added Senator McSally.

KGUN9 also reached out to Governor Ducey and Congressman Raul Grijalva on their thoughts about the new stimulus package.

“This bill was something that was a necessity. It was urgent. And...and I’m glad that Congress did it,” said Congressman Grijalva.”

“I’m thrilled that President Trump has passed this stimulus package. We can start getting dollars to Arizonans,” added Governor Ducey.

It should also be noted Governor Ducey issued an executive order temporarily suspending evictions and foreclosures.