BREAKING: The Senate finally reached a deal on a $900 billion Coronavirus relief bill. Here’s a quick snapshot of what it includes and how much money it means for you:
– Survival checks / Stimulus Checks: $600 per adult + $600 per dependent, including those in “mixed status” families (i.e. families with U.S. citizens/lawful permanent residents (green card holders) as well as relatives who are undocumented without legal immigration status)
While $600 isn’t a lot of money – especially since $1,200 per adult was the direct payment in the earlier relief bill – Democrats are saying something is better than nothing. And they’re promising more aid will be coming once Joe Biden is in office.
– Federal Unemployment: extended by 10 weeks at a rate of $300/weekly
Like stimulus checks, unemployment assistance has been cut in half. Earlier in 2020, via the CARES Act, the federal boost in unemployment had been $600 a week, on top of what out-of-work individuals receive each week from their state.
– Rental assistance: $25 billion available for renters, as well as small mom and pop landlords
– Housing support includes an extension of the moratorium on evictions
– Extension of Earned Income Tax Credit
– Extension of Cash money for Food (i.e. additional SNAP Benefits and other food/nutrition support for kids, the elderly and more)
– Some support for Childcare Assistance
– $46 billion for Mass Transit
– More PPP loans for small businesses, roughly $300 billion total, including $12 billion for minority-owned businesses
Small business aid via PPP loans will also be available to non-profit organizations and faith based groups.
NEXT STEPS AND MORE INFO
The House and the Senate must now officially vote on Monday Dec. 21, 2020. Lawmakers have given themselves a 1-day extension to get everything done and avoid a government shutdown.
Also of importance, here are two things that will NOT be in the new legislation:
– No poison pills; i.e. no liability protection for employers if their employees get sick from coronavirus while regularly going to work. This was something Republicans pushed hard for but didn’t get.
– No provision to limit the authority of the Federal Reserve. This was another item on the GOP wishlist that didn’t materialize.
– No major aid to states and local governments (outside of the mass transit provision). This aid was a major priority for Democrats, but it ultimately didn’t pan out. House Speaker Nancy Pelosi is promising she will make a renewed push for state aid when the Biden-Harris administration takes office on January 20, 2021.
The written text of the new legislation isn’t even completed. But both sides (Republicans and Democrats) have announced a definitive agreement, one confirmed by Senate Majority Leader Mitch McConnell and Senate Minority Leader Chuck Schumer.