Also over the weekend, several countries announced plans to shut their borders to Britain as news of a highly contagious new variant of the coronavirus led the British government to backtrack on plans to let families mix over Christmas. The U.K. is locking down London and other areas in southern England where infections by the Covid mutation are heavily concentrated.
The U.S. is recording at least 215,700 new Covid-19 cases and at least 2,600 virus-related deaths each day, based on a seven-day average calculated by CNBC using Johns Hopkins University data.
The following data was compiled by Johns Hopkins University:
We ve heard this potential news on a new stimulus bill for months but now it looks like it s coming very soon for most Americans.
According to WIVB, Senate Majority Leader Mitch McConnell announced on Sunday that Congress agreed on a new COVID-19 stimulus bill.
McConnell kept up with updates as the negotiations went around the clock to work out a deal, as did Senate Minority Leader Chuck Schumer.
“Barring a major mishap, the Senate and House will be able to vote on final legislation as early as tonight,” said Senate Minority Leader Chuck Schumer, D-N.Y.
This new relief bill would give most Americans $600, which is half of what the CARES Act gave out back in late March. It would be the same, however, as the CARES Act, in which an individual s payout phases out after $75,000 a year earned.
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There are also a series of provisions aimed at ailing small businesses.
In particular, Democrats said they would earmark $284 billion for forgivable loans through the Paycheck Protection Program, according to a joint statement from House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer.
Lawmakers also said that they would expand PPP eligibility to include nonprofits and local newspapers, TV and radio broadcasters.
The PPP was originally established in the CARES Act this spring. In all, about 5 million firms received some $525 billion in loans through the program.
Generally, borrowers are eligible for PPP loan forgiveness if they apply at least 60% of the proceeds to payroll. Partial loan forgiveness may be available to those who don t meet this threshold.