U.S. Senate Passes $2 Trillion Bill for COVID-19 Relief

The U.S. Senate has passed a $2 trillion stimulus bill that will provide direct payments to most Americans, provide tax breaks and loans to corporations and provide additional funds to combat COVID-19.

The elements of the bill that will impact the electronic security industry the most, according to the Electronic Security Association, are:

$500 billion to back loans and assistance to companies. Any company receiving a loan would be subject to a ban on stock buybacks through the term of the loan, plus one year. Executive bonuses would also be limited.
$350 billion to aid small businesses.
Direct payments to Americans of $1,200 for each adult and $500 for each child, with income limitations.
Unemployment insurance would be extended to four months and bolstered by $600 weekly, with expanded coverage for more workers displaced by the coronavirus.

For more information on how COVID-19 is affecting the security industry, go to SDM's Coronavirus Coverage Page.

Join us for an insightful webinar where we delve deep into the ever-evolving landscape of video surveillance. As the demand for robust security solutions continues to surge, staying ahead of the curve is imperative.

PSA Security Network is one of the nation’s leading sources for education, training, and industry networking events. With multiple settings and events throughout the year to meet and exchange industry knowledge, there is something for everyone.