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Congress passed additional COVID-19 relief legislation (H.R.
133) on Monday evening, December 21, 2020. Today, President Trump
is expected to sign the deal, which includes a $900 billion
economic stimulus package that will provide relief benefits to
businesses and individuals impacted by the COVID-19 pandemic.
The following is a summary of some of the provisions that will
have a major impact:
Financial Support for Businesses
PPP Loan Recipients
The legislation includes more than $280 billion for additional
PPP loans. It includes: (1) $12 billion designated for
minority-owned and very small businesses; (2) $15 billion in
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On December 21, 2020, Congress passed a long-anticipated additional round of COVID relief legislation as part of the
Bipartisan-Bicameral Omnibus COVID Relief Deal. This relief bill provides much-needed stimulus to individuals, businesses, and hospitals in response to the economic distress caused by the coronavirus (COVID-19) pandemic. The votes were overwhelming as the Senate passed the bill with a 92-6 vote and the House of Representatives passed it by a vote of 359-53. President Trump was widely expected to sign the legislation, but he has now stated that he will veto it unless the $600 checks sent to individuals are increased to $2,000. The legislation was passed by wide enough margins to override the veto, but it is not yet known if Congress will take that action. The future of the legislation remains uncertain for now. The relief bill was included as Division N of a larger legislative package that included govern
To embed, copy and paste the code into your website or blog:
Congress passed additional COVID-19 relief legislation (H.R. 133) on Monday evening, December 21, 2020. Today, President Trump is expected to sign the deal, which includes a $900 billion economic stimulus package that will provide relief benefits to businesses and individuals impacted by the COVID-19 pandemic.
The following is a summary of some of the provisions that will have a major impact:
Financial Support for Businesses
PPP Loan Recipients
The legislation includes more than $280 billion for additional PPP loans. It includes: (1) $12 billion designated for minority-owned and very small businesses; (2) $15 billion in dedicated funding for live venues, independent movie theaters, and cultural institutions; and (3) expands eligibility for more non-profits/not-for-profits, as well as local newspapers, TV and radio broadcasters.
Wednesday, December 23, 2020
On December 21, 2020, Congress passed a long-anticipated additional round of COVID relief legislation as part of the
Bipartisan-Bicameral Omnibus COVID Relief Deal. This relief bill provides much-needed stimulus to individuals, businesses, and hospitals in response to the economic distress caused by the coronavirus (COVID-19) pandemic. The votes were overwhelming as the Senate passed the bill with a 92-6 vote and the House of Representatives passed it by a vote of 359-53. President Trump is expected to sign the legislation into law. The relief bill was included as Division N of a larger legislative package that included government funding and other bills. The complete text of the legislative package can be found here, and it was the result of last-minute frantic negotiations. Below is a detailed summary of every provision of the COVID relief bill. You can find our Top 10 takeaways summary here.