Wednesday, January 6, 2021
On December 27, 2020, President Trump signed the much-anticipated COVID-19 stimulus bill into law. Among other provisions, the final bill modifies the paid leave provided by the Family First Coronavirus Response Act ( FFCRA ).
Under the FFCRA, certain employers were required to provide Emergency Paid Sick Leave and Expanded Family Medical Leave through December 31, 2020. The new stimulus bill eliminates this obligation and makes the changes described below:
Are employers required to extend FFCRA paid leave beyond December 31, 2020?
No. Under the FFCRA, the requirement to provide paid leave expired on December 31, 2020. The newly enacted stimulus bill does not extend the requirement that employers provide paid leave beyond that date.
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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 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.