6 ways Congress’ $2 trillion aid package will help Coloradans weather coronavirus

From one-time payments to student-loan help and the ability to take money out of retirement accounts without penalties, here’s how the measure will affect you

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Washington, D.C.-, March 27, 2020 | comments
With Congress’ passage Friday of a $2 trillion aid package to help Americans weather the impacts of the new coronavirus, Coloradans will soon see a host of benefits geared toward getting them through the coming weeks and months.

The 880-page stimulus bill, which was signed into law by President Donald Trump, includes at least $2.2 billion for the state and for local governments, as well as funds to directly help people in Colorado. Thousands are already out of work in the state and, with new restrictions on people’s movement going into effect on Thursday, the economic damage is likely to worsen dramatically.

The aid package will send one-time assistance checks in the mail to many Coloradans, while others will be able to secure larger weekly unemployment checks. There is also help in the measure for people with student-loan debt and mortgages, as well as provisions to help small businesses keep their doors open and employees on the payroll.

“This bill is far from perfect,” U.S. Rep. Joe Neguse, a Democrat from Lafayette, said on the House floor Friday. “But let us be clear about one thing: The American people need relief now.” 

U.S. Sen. Cory Gardner, a Colorado Republican, hopes the legislation will help Coloradans reduce the economic anxiety related to public health orders keeping people away from work to slow the spread of the virus.

“If you are a business owner or you’re an employee and you don’t know how you are going to get through next week, how you’re going to pay rent, this helps provide that assurance that help is on the way,” he told The Colorado Sun in an interview.

Here’s a look at six big ways the legislative package will directly help Coloradans and how you can cash in on those benefits soon:

Content originally published by the Colorado Sun on March 27, 2020.
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