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Coronavirus $2 trillion stimulus package good first step for small business -- Here's what needs to happen next

Added 03-27-20 04:04:02pm EST - “Stimulus bill will keep small businesses primed to reopen fully once the public health crisis subsides” - Foxbusiness.com

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Posted By TheNewsCommenter: From Foxbusiness.com: “Coronavirus $2 trillion stimulus package good first step for small business -- Here's what needs to happen next”. Below is an excerpt from the article.

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FOX Business’ Edward Lawrence gives a timeline of when Americans will start receiving money now that the House has passed the coronavirus spending bill.

On Friday, the House of Representatives passed the CARES Act—a legislative package intended to soften the economic fallout of the coronavirus outbreak. The legislation is particularly beneficial to small businesses, which are in dire need of a lifeline amid the pandemic. President Trump is expected to sign the bill imminently.

As consumers take precautions to protect themselves and governments impose restrictions to limit the spread of the virus, Main Street small businesses and their employees are among the hardest hit financially. These businesses typically operate on razor-thin budgets; revenue from the previous day often covers the following day’s overhead and payroll. Even a couple of days of disruption can spur financial challenges. Several weeks or months is another obstacle to clear entirely.

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