Republicans' New Coronavirus Relief Package Contains a Surprise Tax Break
Millions of Americans have been struggling financially since COVID-19 took hold in the U.S., pushing the economy deep into a recession. In March, the CARES Act was signed into law, and it did a number of key things to help provide relief to those negatively impacted by the pandemic. Namely, it provided direct stimulus checks and boosted unemployment benefits by $600 a week.
But the consensus has been that Americans need additional relief beyond what the CARES Act provided for, and so lawmakers have been busy trying to come up with a second proposal. On Monday, Republicans revealed their new stimulus deal, known as the HEALS (Health, Economic, Assistance, Liability Protection, and Schools) Act, and its more notable provisions include providing a second $1,200 stimulus payment to eligible Americans and boosting weekly unemployment benefits, albeit not at the same $600 rate jobless folks have been privy to these past few months. But buried inside the HEALS Act is another provision that could help struggling businesses survive the pandemic while also putting more money into business owners' pockets.
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Source Fool.com
