President Trump has signed the $2 trillion coronavirus relief bill.
His signature came just hours after the House of Representatives passed the bill by voice vote and less than 48-hours after it received approval from the Senate.
The new law authorizes Treasury to send $1,200 payments to millions of Americans and creates programs to disburse close to $1 trillion in business loans and guarantees to millions of large and small companies throughout the country.
Treasury Secretary Steven Mnuchin promised in a Fox Business interview on Friday that the Internal Revenue Service would be moving rapidly to send out payments to Americans who qualify. Small businesses will also have access to close to $400 billion in loans from the new legislation, which amounts to the largest economic stimulus package in the nation’s history.On direct payments to Americans, Mnuchin said: “I’ve committed that the IRS will get these direct deposit in three weeks. Again, American workers can’t wait.”
