What is Congress' massive relief plan?

The stock market, buoyed by hopes that Congress will pass a coronavirus relief package soon, is on pace for its biggest gain since 2008.
2:32 | 03/24/20

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Transcript for What is Congress' massive relief plan?
developing headline from capitol hill. The massive relief package, nearly $2 trillion. The Dow soaring 11%. And tonight, the stories from Colorado to Massachusetts to new Jersey. Small business owners, families, workers, waiting for those checks just to get by, to get here's Terry Moran. Reporter: They're still at work on capitol hill, still struggling to reach a deal on the massive $2 trillion bill to rescue an economy in free fall. The clock has run out. The buzzer is sounding. Reporter: Democratic leader chuck Schumer pushing his troops, too. There are lots of good things here. But we all know we must do these things. Reporter: 3.4 million people filed for unemployment last week, according to Morgan Stanley. That's nearly five times more than the highest week ever. This chart tells the story. Just look at that spike. The restaurant industry, shut down in so many places, is getting clobbered. We heard it in Denver. People in this industry that tend to live paycheck to paycheck, not having even one is detrimental to your rent, to your car payment, to just everything, honestly. Reporter: People who get paid by the hour are hit hard too. According to the bureau of labor statistics, 3 out of 5 Americans work for hourly wages. Bryan Morin's pizza shop in New Jersey has been in the family for over 25 years. He was forced to take out a $50,000 loan to help his employees get through the crisis. We can't risk laying off our employees, and we can't risk them not having a paycheck so they can pay their rents, pay their bills. Reporter: Amelia Deren owns a small jewelry business in Massachusetts, and she says orders that are ready to ship are being cancelled, and invoices are not being paid. I employ stay at home moms, including a military spouse, and to be able to stay in business during this uncertain time is all that we can hope for. Reporter: Big businesses also crippled -- the airlines, cruise lines, hotels. The desperation felt across the country, but in Washington, still no deal. Lawmakers will work into the night, looking to close the gap and get the money flowing. And that economic rescue package would include a $1,200 check for most Americans, $2,400 for married Americans, and $500 for each child. Terry, thank you. Overseas, major news on the summer olympics.

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