Markets on both sides of the Atlantic had good days on Monday, largely fueled by optimism after President Trump signed the $ 900 billion aid package.
The US $ 900,000 million plan to help the United States economy will be unlocked after President Donald Trump ratified the text on Sunday, at the end of a week of comings and goings.
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These are the details of the initiative:
Households
The poorest households receive a check for $ 600 per adult and per child, depending on income (up to $ 75,000 per year per person, or 150,000 for a married couple), totaling $ 166,000 million.
Unemployment benefit payments will run until March 14 (with an additional four weeks for those who have not exhausted their rights), and will revert to workers who are usually not entitled to it, particularly drivers and informal deliverers.
These measures were adopted at the end of March, because each state pays the classic unemployment benefits, for six months in the case of the most generous.
But those measures expired on December 26, and more than 12 million Americans were left without an income overnight.
Another measure, which expired at the end of July, has been reintroduced: the payment of an additional $ 300 per week for all unemployed people.
However, that figure is 50% lower than what was awarded between April and July.
Finally, the evictions of tenants unable to pay their rent will be suspended until the end of January 2021, and approximately $ 25,000 million is planned for bank loans to local communities to help tenants pay their rent.
Youth and education
While classes will remain virtual for most US students, at least US $ 82 billion will be released for part of the week, specifically to enable public and private schools to prepare to welcome their students, which means guarantees the same. time your safety and that of the teachers.
There is also a budget of just over $ 10 billion for daycare centers and other institutions that welcome the little ones.
Lower income children will receive a special aid program that also includes nutrition.
Fight COVID-19
The text provides for just over $ 55,000 million to fund tests and detection of the coronavirus, as well as to speed up vaccination and continue research through various programs.
Company
A total of $ 325 billion will go to small and medium-sized enterprises (known as PPPs), a measure that characterizes the first boreal spring recovery plan.
The measure concerns companies with no more than 300 employees whose turnover decreased by at least 25% during a quarter in 2020 compared to the same period in 2019.
In the first version, the debt could be forgiven if the money was used to pay wages.
Herein, the potential applications have been extended to bills and damages sustained during the demonstrations against police brutality and racial and economic inequalities of the boreal summer.
A grant of $ 16,000 million is intended to save tens of thousands of jobs at the airlines and their subcontractors, and another $ 2,000 million for the airports.
To maintain the roads despite the decline in revenues from the pandemic, the state and local authorities will receive a total of $ 10 billion.
And another $ 15 billion will be allocated to rail transport and bus and metro networks, which have seen ticket sales decline since March.
Independent cinemas, theaters, concert halls and cultural institutions will be badly affected by the pandemic and will benefit from $ 15 billion.
And $ 10 billion will go to the US Post Office, the USPS, whose financial troubles have existed for a long time but have been exacerbated by the pandemic and the election campaign.