Corporate

Senate passes $2 trillion coronavirus relief bill, which includes checks for Americans and small business loans

15 days ago   |   By

Joshua Roberts/Reuters
The Senate passed the Coronavirus Aid, Relief, and Economic Security Act or the ''CARES Act,' on Wednesday, March 25, sending it to the House of Representatives, and setting President Trump up to usher in roughly $2 trillion in economic stimulus as the coronavirus threatens near-term recession.
The stimulus measure passed 96 to none at around 11:35 p.m. ET and includes payments for millions of Americans, unemployment benefit expansions, and loans for struggling businesses.
The passage follows back-to-back blockages from Senate Democrats as the party demanded stronger...
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Airlines, others to benefit from $2 trillion rescue bill

Airlines, others to benefit from $2 trillion rescue bill

15 days ago   |   By

The White House and Senate leaders agreed early Wednesday on a $2 trillion economic rescue package, the largest in the country's history
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Airlines would get the $60 billion bailout they asked for in the new Senate coronavirus stimulus bill, which would prohibit layoffs and ban stock buybacks and dividends

Airlines would get the $60 billion bailout they asked for in the new Senate coronavirus stimulus bill, which would prohibit layoffs and ban stock buybacks and dividends

15 days ago   |   By

David McNew/Getty
A bipartisan coronavirus aid package in the Senate offers $58 billion to the nation's airlines , split evenly between loans and payroll grants.
The coronavirus bailout package , which aligns with requests made by US airlines , would prohibit stock buybacks and share dividends for at least a year after the loans have been repaid. It also restricts executive compensation.
Airlines would be prohibited from laying off or furloughing employees through September, should the crisis for air carriers continue past then, effectively protecting "hundreds of thousands of jobs," one...
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Sen. Lindsey Graham threatens to derail coronavirus economic aid bill over boosted unemployment benefits, calling it 'Bernie Sanders on steroids'

Sen. Lindsey Graham threatens to derail coronavirus economic aid bill over boosted unemployment benefits, calling it 'Bernie Sanders on steroids'

15 days ago   |   By

Alex Brandon/AP
Graham said the $2 trillion stimulus bill was "Bernie Sanders on steroids" in a radio interview with Sean Hannity.
He was among four GOP senators that blasted the bill for significantly boosting unemployment benefits, terming it a "massive drafting error."
They said they would oppose quickly approving the bill unless their concerns were addressed.
Visit Business Insider's homepage for more stories.
Republican Sen. Lindsey Graham assailed the massive $2 trillion economic stimulus bill in a radio interview with Sean Hannity on Wednesday afternoon, calling it "Bernie Sanders...
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