December 21, 2020
It’s a Christmas miracle! Late last night, Congressional leaders in the House and Senate agreed to a $900 billion pandemic relief package. When the bill passes it will be the second largest stimulus deal since the $2 trillion CARES Act that was passed back in March.
Here’s what we know as of now:
- Includes $600 per person and up to $2400 per family – the benefit would be reduced if you earn more than $75,000 a year
- $300 unemployment benefit for 11 weeks
- Reopens the Paycheck Protection Program (PPP) allowing small businesses to apply for a second loan
- Expands the PPP for non-profits (the package now includes 501(c)(6) organizations)
- Designates $12 billion for minority-owned and very small businesses
- Provides $82 billion for K-12 schools and colleges
- $10 billion is included to support child care providers
- Will extend eviction protection until January 31
- $25 billion in rental assistance to individuals who lost their job during the pandemic
- $20 billion for the purchase of vaccines
- $8 billion for vaccine distribution
The legislation is still being finalized and is being completed this morning. If everything goes smoothly, the package is expected to pass later today and head to the President’s desk tonight or in the morning. We will let you know if anything new develops later today.
Senior Director of Legislative Relations