The Knesset (Israel Parliament) passed a NIS 7.2 billion ($2.1 billion) coronavirus aid package Monday night.
The plan includes NIS 4.2 billion ($1.2 billion) for Israel’s Education Ministry to fund the “Studying in Safety” program, created to help the education system operate during the COVID-19 pandemic.
In addition, NIS 1 billion will be put towards supporting Israelis who are struggling to pay their income tax.
Finance Minister Israel Katz decided to put NIS 2 billion towards “promoting accelerated depreciation,” in order to allow manufacturing industries “double depreciation” on their machinery and equipment, according to Israeli daily newspaper Calcalist.
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