New $900 Billion Stimulus Package
Congress unveiled today a $2.4 trillion spending package that includes $900 billion in coronavirus relief. The latter will deliver critical pandemic aid to millions of Americans. This includes $600 checks, $300 additional weekly unemployment payments, $325 billion for small businesses and more. Let’s take a look at the details.
$600 Checks
A one time payment of $600 will be sent to individuals making up to $75,000 a year. Couples making up to $150,000 will receive $1,200. Then there’s an additional $600 per child. The payments decrease for people who made more than $75,000 during 2019.
Those earning more than $75,000 will get less. The amount will decrease gradually, and those who make $99,000 per year or more will receive no checks.
Additional Unemployment Benefits
Unemployed Americans will receive an extra $300 per week in federal cash through March 14. The legislation also extends employment benefits to self-employed individuals, gig workers and those who’ve exhausted their state benefits. The benefits aren’t retroactive.
The bill also would give an additional $100 a week to those who earned at least $5,000 a year in self-employment income but are disqualified from receiving a more generous Pandemic Unemployment Assistance benefit because they are eligible for state jobless aid.
$325 Billion Small Business Assistance
The package includes an extension of the small business Paycheck Protection Program, which expanded eligibility to local newspapers, broadcasters and nonprofits. It will direct another $20 billion to small business grants and $15 billion to live event venues, $15 billion to help airlines maintain their payrolls and $20 billion for businesses in low-income communities. The small business aid is only expected to cover less than three months of payroll costs.
Eviction Moratoriums
The bill provides billion in emergency rental assistance and provides an extension of eviction moratoriums. The latest legislation extended the moratorium through Jan. 31.
Conclusion
We will find out more details about the bill soon, but the $600 checks and the additional $300 in unemployment benefits should be welcomes news for Americans who are struggling financially during the pandemic.
The bill also includes increased funding for vaccine distribution and coronavirus testing, $13 billion in increased benefits for the Supplemental Nutrition Assistance Program, $14 billion for mass transit, $10 billion for state highways, $2 billion for airports and $1 billion for Amtrak.
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You left out the 10 million to ” gender programs in Pakistan” and the 700 million to Sudan. To the unemployed who have been crushed because of endless lockdowns, here’s your measly $600. should last you a couple days. Get used to this America, its what you got to look forward to in the next 4 years!