On March 27, 2020, the President signed H.R. 748, a $2.2 trillion stimulus package. Below are a few elements of the bill:
– Allow the Fed to directly purchase munis to stabilize the market
– Provide $150 billion for a Coronavirus Relief Fund
– Provide $130 billion for health care systems
– Provide $25 billion for transit systems
– Provide $10 billion for airports
– Provide $5 billion for Community Development Block Grants
– The $150 billion Coronavirus Relief Fund administered by the Treasury will disperse $8 billion to tribal governments, $3 billion to territories and the District of Columbia, and the remaining $139 billion to states and cities with populations over 500,000.
– Any municipality with a population under 500,000 will have to make its request for money from the new Coronavirus Relief Fund to their state.