Local Residents Could Receive Checks from Stimulus Package

Late Wednesday night the U.S. Senate passed a $2 trillion stimulus package that could bring relief to struggling people, laid off or furloughed during the Coronavirus Pandemic.

Married couples would receive $2,400 and $500 per child and singles would receive $1,200 based on income limits.

If the House passes the package, which is expected to happen, local residents could expect checks in late April or early May according to most experts, President Donald Trump said checks could go out as soon as April 6.

Companies across the country have shut down or sent employees home to work.

In an effort to prevent the virus locally, the city has issued a Safer at Home order closing all non-essential businesses, leaving waiters and other workers that cannot work from home worried about paying their bills.

When asked how the stimulus package could help the city and local businesses Pasadena Public Information Officer Lisa Derderian said, “It’s too soon to determine at this point.”

Mermell told Pasadena Now earlier this week, he hoped the Federal Reserve would start purchasing municipal bonds as part of the stimulus package. The move could help the city avoid about $500,000 a month in debt due to the Civic Center’s bond, which is about $135 million in outstanding debt.

“To the extent that it delivers income to people who have lost their jobs or are unable to go work at their jobs is vital because people have to have money in their pockets in order to survive,” said Mayor Terry Tornek. “To help small businesses is also vital, and that obviously will have a huge impact on the community. That’s the most important thing that they can do for us in terms of maintaining the local healthy economy.”

The $2 trillion relief package is the biggest in American history.

“This bill accomplishes a number of the goals we initially laid out: it provides direct relief for individuals and families hurting economically, help for healthcare workers and hospitals on the front lines, relief for small businesses, and assistance to the states most affected,” said Rep. Adam Schiff (D-Pasadena).

All details of the package were not available on Thursday morning.

Democrats also successfully pushed for a provision that forbids President Trump and his family, top government officials, including members of Congress from getting loans or investments from Treasury programs in the stimulus.

Hospital will receive $100 billion in assistance.

“This is, this is not about politics or a political campaign,” said Mayoral Candidate Victor Gordo. “This is about the very real health and economic challenges faced by every resident of this country and beyond. This is the time to pull together and assist one another as humans and residents of the greatest country in the world.”

As part of the package, lawmakers agreed to expand unemployment insurance by 13 weeks and include a four-month enhancement of benefits — the package allows for an additional $600 per week, on top of what state unemployment programs pay. Unemployed worker are eligible for up to 39 weeks of unemployment benefits. Furloughed employees and gig workers, including Uber and Lyft drivers are eligible for benefits.

The legislation creates a $367 billion federally-guaranteed loan program for small businesses, owners must pledge not to lay off their workers. Loans will be forgiven if the employer pays its workers for the duration of the crisis.

The package includes $10 billion in Small Business (SBA) Administration emergency grants and up to $10 million of emergency relief per business. Also $17 billion has been allocated for the SBA to cover six months of payment for small businesses with existing SBA loans.

The legislation will also offer $25 billion in emergency transit funding.

The plan includes loans for distressed companies from a $425 billion fund controlled by the Federal Reserve. An additional $75 billion will be available for industry-specific loans, including to airlines and hotels.

The plan also calls for an immediate disclosure of the fund recipients.

Lawmakers also agreed to increase Medicare payment increases to all hospitals and providers.