Senate Approves $2T Stimulus Package With Checks To Some Americans, $100B In Grants For Hospitals

The New York Times: Senate Approves $2 Trillion Stimulus After Bipartisan Deal
The $2 trillion economic stabilization package agreed to by Congress and the Trump administration early Wednesday morning is the largest of its kind in modern American history, intended to respond to the coronavirus pandemic and provide direct payments and jobless benefits for individuals, money for states and a huge bailout fund for businesses. The measure, which the Senate approved unanimously just before midnight on Wednesday, amounts to a government aid plan unprecedented in its sheer scope and size, touching on every facet of American life with the goal of salvaging and ultimately reviving a battered economy. (Cochrane and Fandos, 3/25)

The Washington Post: The Senate Coronavirus Stimulus Bill: What's In It And How Big Is It
The legislation takes a multipronged approach to confronting the mounting crisis. It contains a number of measures aimed directly at helping workers, including stimulus checks for millions of Americans, and others to shore up the government safety net, with provisions such as more food stamp spending and more robust unemployment insurance benefits. It also includes numerous provisions to help businesses weather the impending crunch, providing them with zero-interest loans, tax breaks and other subsidies. (Stein, 3/26)

The Associated Press: Senate Passes Coronavirus Rescue Package On Unanimous Vote
The 880-page measure is the largest economic relief bill in U.S. history. Majority Leader Mitch McConnell appeared somber and exhausted as he announced the vote — and he released senators from Washington until April 20, though he promised to recall them if needed. “Pray for one another, for all of our families, and for our country,” said McConnell, R-Ky. “The legislation now before us now is historic because it is meant to match a historic crisis,“said Minority Leader Chuck Schumer, D-N.Y. “Our health care system is not prepared to care for the sick. Our workers are without work. Our businesses cannot do business. Our factories lie idle. The gears of the American economy have ground to a halt.” (Taylor, 3/26)

The Washington Post: Coronavirus Stimulus Checks: Calculate How Much You’ll Get, $1,200 Or More
Bipartisan legislation passed by the Senate on Wednesday evening — which still must be passed by the House — would provide $1,200 payments to adults with annual incomes up to $75,000, plus another $500 per child. Some Americans earning more over $75,000 would also receive money if they meet certain qualifications outlined below. For most Americans, the money is likely to arrive in April via direct deposit. Mailed checks may take longer. Use the calculator below to see how much you would receive. Under that, see answers to frequently asked questions. (Still, Long and Uhrmacher, 3/26)

Reuters: U.S. Senate Passes $2 Trillion Bill For 'Strange And Evil' Coronavirus Crisis
It was delayed by criticism from both the right and left on Wednesday, pushing the final vote on passage almost another full day. Several Republican senators had insisted the bill needed to be changed to ensure that laid-off workers would not be paid more in unemployment benefits than they earned on the job. (Cowan, Morgan and Zengerle, 3/25)

The Associated Press: Highlights Of Congress' Massive Virus Economic Relief Plan
Partial highlights of a roughly $2.2 trillion package to rush aid to businesses, workers and a health care system slammed by the coronavirus pandemic. The package, written by Trump administration officials and Democratic and Republican Senate leaders, was released late Wednesday night and unanimously approved by the Senate. ... Health care: $150 billion. Includes $100 billion for grants to hospitals, public and nonprofit health organizations and Medicare and Medicaid suppliers. (Fram, 3/26)

Politico: Here's What's In The $2T Stimulus Package — And What's Next
What [hospitals] got: Health care providers would secure $100 billion in grants to help fight the coronavirus and make up for dollars they have lost by delaying elective surgeries and other procedures to focus on the outbreak. They would also get a 20 percent bump in Medicare payments for treating patients with the virus. Why it matters: This figure is exactly what three powerful groups representing physicians, hospitals and nurses had demanded, though for-profit hospitals were lobbying for much more. But there are still questions about whether there will be significant guardrails on how the money will be split up. The coronavirus will hit rural hospitals especially hard, since they already operate on thin margins and have limited staffing capacity. So some lawmakers have been working to ensure enough money goes to those sites. (Emma and Scholtes, 3/25)

Modern Healthcare: COVID-19 Economic Stimulus Deal Includes Billions In Hospital Funding
The American Hospital Association on Wednesday supported the bill and called for its passage, but said more will need to be done in subsequent legislation. "This bill includes important provisions that will help us respond, including the creation of an emergency fund grant program, additional support for taking care of COVID-19 patients and relief from spending cuts, among other provisions," AHA President and CEO Rick Pollack said in a statement. The AHA, American Nurses Association and American Medical Association had asked for $100 billion to support operations, while the Federation of American Hospitals had asked for $225 billion. Their efforts were largely successful, as the first draft of Senate Republicans' legislation did not include any such emergency fund, and a later draft included $75 billion. (Cohrs, 3/25)

The Wall Street Journal: What’s In The $2 Trillion Senate Coronavirus Bill
$221 billion in a variety of tax benefits for businesses, including allowing businesses to defer payroll taxes, which finance Medicare and Social Security, for the rest of the year. It would also temporarily allow businesses to claim deductions using today’s losses against past profits to claim quick refunds for cash infusions. -- $340 billion in supplemental spending, which includes $117 billion for hospitals and veterans’ care. It also includes $25 billion mostly for public transit to make up for revenue lost because of dwindling ridership. (3/26)

ABC News: Senate Approves Bipartisan Stimulus Package Late Wednesday As Congressional Leaders Whip Support 
Senate Republicans downplayed concessions given to Democrats throughout the marathon negotiations, arguing Senate Minority Leader Chuck Schumer "delayed life-saving aid to medical professionals and significant relief for families and small businesses in order to claim credit for wins that are either bipartisan or Republican ideas." (Parkinson, 3/25)

The Wall Street Journal: Senate Approves Roughly $2 Trillion In Coronavirus Relief
The bill also greatly expands unemployment insurance to cover freelance and gig workers, refills drained state coffers and extends additional resources to health-care providers. “A fight has arrived on our shores,” Senate Majority Leader Mitch McConnell (R., Ky.) said on the Senate floor, where he likened the measure to “wartime investment.” He added: “We did not seek it. We did not want it. But now, we are going to win it.” (Jamerson, Duehren and Andrews, 3/26)

The Wall Street Journal: Relief Package Would Limit Coronavirus Damage, Not Restore Economy
At more than 9% of gross domestic product, the measure is larger than the three major packages enacted to counter the 2007-09 recession, said Ernie Tedeschi, an economist at Evercore ISI. Even so, more will be needed, he said. “The scale of the problem is accelerating, and it’s moving faster than fiscal policy makers are acting,” Mr. Tedeschi said. (Davidson and Mitchell, 3/26)

Los Angeles Times: Coronavirus: Senate Vote Expected On $2-Trillion Stimulus Bill
The package also blocks foreclosures and evictions during the crisis on properties where the federal government backs the mortgage; pauses federal student loan payments for six months and waives the interest; gives states millions of dollars to begin offering mail or early voting; and provides more than $25 billion in new money for food assistance programs like SNAP. The real test will be whether the House accepts the bill as it is. Friday’s vote will be held by a voice vote, House Majority Leader Steny H. Hoyer (D-Md.) announced Wednesday evening. That means representatives scattered across the country don’t have to return to Washington for the vote. (Wire, 3/25)

The Hill: Hoyer Says House Expects To Pass Coronavirus Bill On Friday 
“In order to protect the safety of Members and staff and prevent further spread of COVID-19 through Members’ travel, the Republican Leader and I expect that the House vote on final passage will be done by voice vote," Hoyer wrote. "Members who want to come to the House Floor to debate this bill will be able to do so." Hoyer said that he and House Minority Leader Kevin McCarthy (R-Calif.) are figuring out a way for members unable to travel to still express their positions from afar. (Marcos, 3/26)

Politico: Inside The 10 Days To Rescue The Economy
It was going to cost $1 trillion. Late on March 16, five days after the World Health Organization declared the novel coronavirus a pandemic, Larry Kudlow — the one-time cable news talker turned top economic advisor to President Donald Trump — was in the Senate’s historic Mansfield room, telling a group of senior GOP senators something they didn’t want to hear. (Bresnahan, Levine and Desiderio, 3/26)

The New York Times: Stimulus Money To Protect Elections Falls Short, Critics Say
The $2 trillion stimulus package that was approved by the Senate on Wednesday contains $400 million to address one of the most uncertain impacts of the coronavirus outbreak — its potential to wreak havoc with voting, including the presidential election in November. The figure falls far short of what state officials and voting rights experts have said is needed to ensure a safe and accurate count if the virus keeps millions of people away from polling places in primary elections and on Election Day. (Wines, 3/25)

The New York Times: Colleges Get Billions In Coronavirus Relief, But Say Deal Falls Short Of Needs
The $2 trillion stimulus package barreling toward passage by the Senate on Wednesday will send about $14 billion to colleges and universities that are hemorrhaging money as they close their campuses and try to stay afloat with distance learning. But higher education leaders say that is far short of what they need in the face of an education crisis that is greater than any they have faced in a generation. (Green, 3/25)

The New York Times: Fine Print Of Stimulus Bill Contains Special Deals For Industries
Restaurants and retailers will get a tweak to federal tax law they have been seeking for more than a year that could save them $15 billion. Community banks are being granted their long-held wish of being freed to reduce the amount of capital they have to hold in reserve. And for-profit colleges will be able to keep federal loan money from students who drop out because of the coronavirus. (LIpton and Vogel, 3/25)

The Hill: Schumer Waves Off Cuomo Criticism That He Didn't Deliver For New York With Coronavirus Stimulus 
Senate Democratic Leader Charles Schumer (N.Y.) at a press conference late Wednesday waved off pointed criticism that his home-state governor, Andrew Cuomo, aimed at the Senate’s $2 trillion coronavirus relief bill earlier in the day. “He’s disappointed that it only got five billion dollars for the state government, but there are small businesses in New York who need money, there are unemployed people who need money, there are hospitals who need money, there are nurses who need money,” Schumer said. (Bolton, 3/26)

The Hill: Senate Rejects GOP Attempt To Change Unemployment Benefits In Coronavirus Stimulus Bill
The Senate rejected an attempt by four Republican senators to change boosted unemployment benefits included in a mammoth coronavirus stimulus package.  Senators voted 48-48 on an amendment that would cap unemployment benefits at 100 percent of an individual's salary before they were laid off. Sixty votes were required for the amendment to pass. (Carney, 3/25)

The Hill: 7 Things To Know About The Coronavirus Stimulus Package
The Senate is set to pass a $2 trillion stimulus package as soon as Wednesday after clinching a deal shortly after 1 a.m. The bill marks an unprecedented attempt by the federal government to revive the economy and prevent a deep recession, as the quick spread of the coronavirus has upended day-to-day life in the United States. The 2008 Troubled Asset Relief Program (TARP), by comparison, was $700 billion. (Carney, 3/25)

The Hill: How The Business Loan Program Would Work In The $2T Coronavirus Package 
The final version of the $2 trillion coronavirus stimulus bill devotes hundreds of billions of dollars in support of loans to companies that are intended to keep them from failing and laying off workers. The bill includes a variety of mechanisms for businesses of different sizes. Among the most important is a $367 billion program aimed at keeping the country’s unemployment rate from skyrocketing. “We have never done anything like this before,” said Sen. Pat Toomey (R-Pa.), a conservative who would not normally be expected to back a $2 trillion spending bill. “The idea is to encourage these companies to keep workers on the payroll.” (Elis, 3/25)

The Washington Post: Federal Coronavirus Stimulus Package Could Severly Shortchange D.C
Draft legislation circulating Wednesday called for the District and five territories to divide $3 billion by population, meaning the District would receive only about $500 million, which is less than half the minimum $1.25 billion guaranteed to each state, officials said. (Portnoy, 3/26)

CNN: Fear Drives $2 Trillion Economic Rescue Bid -- And Sparks Calls For The Next One 
Even $2 trillion is not enough to dispel fears stalking Washington that the coronavirus crisis could pull down the economic foundation on which American life depends. There are several daunting takeaways from the bulging pandemic stimulus bill -- expected to clear Congress soon after the Senate passed it unanimously late Wednesday night, notwithstanding some last-minute quibbles by rank and file members on both sides. All of them underscore the extreme and historic nature of the crisis that may have already wiped out millions of jobs at a swipe. (Collinson, 3/26)

Politico: Insurers Scramble To Avoid 9/11-Style Coronavirus Backlash
Insurance companies are facing political pressure to pay what could be a crippling sum of coronavirus claims — even though many of them say their policies don't cover pandemics. Anger on Capitol Hill is growing over moves by insurers to deny claims being filed by restaurants, retailers and other businesses that believed they had coverage to financially protect themselves from a major disruption like the one they're now enduring. The insurance industry is so alarmed at the prospect of a massive payout that it's rushing to put together a plan to get Washington off its back. (Warmbrodt, 3/26)

Reuters: 'Apocalypse Now': Airlines Turn To Cargo For Revenue As U.S. Senate Approves Aid Package
The passenger travel industry has been ravaged by the coronavirus pandemic, with Australia’s Flight Centre Travel Group Ltd announcing plans to cut 6,000 travel agent roles globally, either temporarily or permanently. The International Air Transport Association (IATA), which represents airlines, said it has written to the heads of governments of 18 countries in the Asia-Pacific region, including India, Japan, Malaysia, South Korea, Thailand, Vietnam and the Philippines for emergency support for carriers. (Freed and Rucinski, 3/25)

Reuters: U.S. Set To Grant Automakers A Lifeline -- But No Bailout
The $2 trillion economic rescue package before the U.S. Senate on Wednesday would send the federal government to the auto industry’s rescue for the second time in a dozen years. (Shepardson and Klayman, 3/25)

The Hill: Senate Leaving D.C. Until April 20 After Coronavirus Stimulus Vote
The Senate will leave town after passing a coronavirus stimulus package and not return until April 20, Majority Leader Mitch McConnell (R-Ky.) announced late Wednesday night. The Senate unanimously passed a massive stimulus bill that costs approximately $2.2 trillion. McConnell announced shortly before it started that the Senate will not have its next roll call vote until April 20. (Carney, 3/25)

The Washington Post: Senate Passes $2 Trillion Bill To Blunt Coronavirus Pandemic’s Economic Impact, As Households And Businesses Gasp For Relief
In a fresh reminder of the dangers reaching into the Capitol itself, a spokesman for Sen. John Thune (R-S.D.), the No. 2 Senate Republican, announced just minutes before the vote that Thune was returning to South Dakota to self-quarantine because he was feeling unwell. Thune was one of four senators absent for Wednesday night’s vote, and the other three absences were also due to the coronavirus — Sen. Rand Paul (R-Ky.), who has tested positive, and GOP Sens. Mike Lee and Mitt Romney of Utah, who self-quarantined because they had spent time with Paul. (Werner, DeBonis and Kane, 3/26)

Billings Gazette: Montana's Slice Of $2T Rescue Bill Can't Come Soon Enough, Says State Officials 
U.S. Senator Jon Tester described the stimulus package as fitted for the tourism and service industries, which account for $3.7 billion of the state’s economy. And, Sen. Steve Daines said new unemployment claims are rising by several thousand a day. The bill was written by Republicans and amended throughout the week through negotiations with Democrats who were concerned their priorities were missing from the bill. (Lutey, 3/25)