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$900 billion COVID relief bill passed by Congress, sent to Trump
By Andrew Taylor - Associated Press
Dusk falls over the Capitol, Monday, Dec. 21, 2020, in Washington. Congressional leaders have hashed out a massive, year-end catchall bill that combines $900 billion in COVID-19 aid with a $1.4 trillion spending bill and reams of other unfinished legislation on taxes, energy, education and health care. (AP Photo/Jacquelyn Martin)
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COVID-19 RELIEF
Unemployment insurance ($120 billion). Revives supplemental federal pandemic unemployment benefits but at $300 per week through March 14 instead of the $600 per week benefit that expired in July. Extends special pandemic benefits for “gig” workers and extends the maximum period for state-paid jobless benefits to 50 weeks.
COVID stimulus bill features rental assistance, $600 checks and funds for Paycheck Protection Program
Updated Dec 22, 2020;
Posted Dec 22, 2020
U.S. Capitol Christmas Tree is seen at the U.S. Capitol at night after negotiators sealed a deal for COVID relief Sunday, Dec. 20, 2020, in Washington. Top Capitol Hill negotiators sealed a deal Sunday on an almost $1 trillion COVID-19 economic relief package, finally delivering long-overdue help to businesses and individuals and providing money to deliver vaccines to a nation eager for them. Congress is scheduled to vote on the bill Monday. (AP Photo/Jose Luis Magana)AP
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The massive, year-end catchall bill Congress passed combines $900 billion in COVID-19 aid with a $1.4 trillion omnibus spending bill and reams of other unfinished legislation on taxes, energy, education and health care. It awaits President Donald Trump’s signature.
Associated Press
Jose Luis Magana/AP Photo
The U.S. Capitol is seen at night after negotiators sealed a deal for COVID relief Sunday in Washington. Top Capitol Hill negotiators sealed a deal Sunday on an almost $1 trillion COVID-19 economic relief package, finally delivering long-overdue help to businesses and individuals and providing money to deliver vaccines to a nation eager for them.
Congressional leaders have hashed out a massive, year-end catchall bill that combines $900 billion in COVID-19 aid with a $1.4 trillion omnibus spending bill and reams of other unfinished legislation on taxes, energy, education and health care. The huge bill is slated for votes on Monday with lawmakers having only a few hours to read it before casting their votes.
COVID-19 RELIEF
Unemployment insurance ($120 billion). Revives supplemental federal pandemic unemployment benefits but at $300 per week through March 14 instead of the $600 per week benefit that expired in July. Extends special pandemic benefits for “gig” workers and extends the maximum period for state-paid jobless benefits to 50 weeks.
Direct payments ($166 billion). Provides $600 direct payments to individuals making up to $75,000 per year and couples making up to $150,000 per year with payments phased out for higher incomes - with $600 additional payments per dependent child. In March under the CARES Act, it was $1,200 and $2,400, respectively, and $500 per dependent child.
Paycheck Protection Program ($284 billion). Revives the Paycheck Protection Program, which provides forgivable loans to qualified businesses. Especially hard-hit businesses that received PPP grants would be eligible for a second round. Ensures that PPP subsidies are not taxed.