$50 Billion assistance for small businesses
On 11. March 2021 U.S. President Joe Biden signed a comprehensive $1.9 trillion economic stimulus package. The package includes a variety of measures, including direct payments to citizens, an increase in unemployment benefits and an expansion of food assistance. However, special attention was paid to small companies.
$50 billion is intended to provide targeted assistance to small businesses to help them through the difficult time of the pandemic. Focuses on businesses with fewer than 500 employees and nonprofit organizations. Assistance includes both direct grants and loans to help these businesses keep their doors open and retain or rehire their employees.
The pandemic has taken a heavy toll, and it is important that the government takes action to help affected people and businesses. With this stimulus package, the government is taking an important step to improve the lives of Americans and get the economy back on track.
Billion-dollar stimulus package aims to help small businesses
Small businesses in the U.S. are to benefit from a comprehensive $1.9 trillion stimulus package. U.S. President Joe Biden signed the package in an effort to boost the economy during the Corona crisis.
The package includes $50 billion in aid for small businesses. Among other things, these would be used for grants, loans and support for the transition to digital business models. Support will also be provided for the provision of protective clothing and disinfectants.
Critics see the package as excessive and fear further U.S. indebtedness. Advocates, on the other hand, praise the measures as urgently needed to help so-called Main Street get back on its feet.
- 50 billion US dollars for small businesses
- Grants, loans and support for digitization
- Providing protective clothing and disinfectants
- Controversy surrounds comprehensive package
Overall, the stimulus package will also support families, the unemployed, schools and health care facilities. It remains to be seen whether the package will actually have the positive impact on the economy that is hoped for.