$1,200 stimulus checks for all? What to know about the US coronavirus bailout

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Agreement reached early on Wednesday will give money to most Americans, small-business loans and help for hard-hit industries

With large areas of the US shut down, stock markets crashing, industries facing collapse and soaring unemployment, the US government is set to pass the most expensive bailout in US history in attempts to save the US economy.

Democrat and Republican leaders of Congress, along with White House officials, have been scrambling to make a deal in around-the-clock negotiations and finally announced early on Wednesday that they have reached an agreement. The Senate is expected to vote on the bill on Wednesday.

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