$ 600 checks, $ 300 unemployment increase, P3 loans
New COVID-19 relief: no more stimulus checks and unemployment benefits
Lawmakers have reached a nearly $ 900 billion COVID-19 relief deal, including another round of stimulus checks and unemployment benefits for struggling Americans.
Staff Video, USA TODAY
After weeks of negotiations and months of inaction, congressional leaders said Sunday evening they had reached a deal on another coronavirus relief program.
The $ 900 billion proposal, which will be approved as part of a larger government funding bill and sent to the president this week, contains a wide variety of programs intended to help the country through the winter with the COVID-19 still at large.
Here’s a look at what’s inside.
The bill provides for a second round of direct payments of up to $ 600 per single adult and up to $ 1,200 per couple filing jointly – half of what Congress authorized in the spring.
If the income guidelines remain the same as in the spring, single adults who earned $ 75,000 or less in 2019 and couples who earned $ 150,000 or less will receive the full amount, while those who made more will see their reduced benefits.
Singles earning over $ 99,000 and couples earning over $ 198,000 will not be eligible at all.
Eligible families will also receive an additional $ 600 for each child in their household.
Secretary of the Treasury Steve Mnuchin told CNBC on Monday his department expects to start sending out the checks before the end of the year and that people could start receiving them as early as next week.
Unemployment extensions and bonuses
Bill gives people on unemployment benefits $ 300 more per week until March 14 according to the New York Times.
Like stimulus checks, this amount is equivalent to half the bonus that unemployed workers received in the spring and early summer.
In addition, the bill extends special federal unemployment programs created by Congress for the self-employed and people who have exhausted their regular state benefits until mid-March.
Currently, these programs, who supported more than 70,000 Missourians end of November, will expire on Boxing Day.
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Business loans and grants
The bill authorizes more than $ 300 billion in new relief for businesses.
Most of that money will go to the Paycheque Protection Program, which provides forgivable loans to small businesses in America regardless of industry or geography. click to find out more
A smaller part will however be more targeted.
$ 20 billion will go to grants for businesses in low-income communities and $ 15 billion to grants for live entertainment venues like theaters and museums.
Moratorium on evictions
The bill extends the Centers for Disease Control’s ban on evicting people for non-payment of rent until January.
Using data from the Census Bureau Household Pulse Survey, Stout Investment Bank recently estimated that between 41,200 and 86,600 Missouri households could face “housing disruptions” or evictions in January without such an extension.
To benefit from temporary protection, tenants must complete a shape declaring, inter alia, that:
- they are unable to pay the rent in full due to a significant loss of income, layoff or extraordinary medical expenses;
- they expect to earn less than $ 99,000 in 2020
- they have made their “best efforts” to obtain government housing assistance;
- they try to make partial payments; and
- would likely become homeless if evicted.
Congress will also include $ 25 billion in rent assistance to help people pay their rent.
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A few more things
The bill also includes tens of billions of dollars for COVID-19 testing and vaccine distribution, as well as money to increase the benefits of the Supplemental Nutrition Assistance Program, or SNAP.
The government funding bill that the COVID-19 proposal will join also contains notable provisions, including one protecting people from “surprise” medical bills for unexpected off-grid care, according to Axios.
USA Today contributed to this report.
Austin Huguelet is the political reporter for the News-Leader. Do you have something he should know? Have a question? Call him at 417-403-8096 or email him at [email protected]