While the Federal Reserve races to help keep the economy afloat, the House just proposed a $3 trillion aid package called the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act—to help strengthen state and local government funding and extend relief to Americans.
According to The Wall Street Journal, the HEROES Act would include:
- A second round of direct stimulus payments to individuals, at $1,200 per family member (up to $6,000 per household)
- An extension of the additional $600-per-week unemployment benefits through January 2021
- $200 billion in hazard pay for first responders and frontline workers
- $75 billion for increased coronavirus testing
- $175 billion in rent and mortgage assistance