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New stimulus law passed: Every major benefit you get, including a second check


#Here are the details of the final stimulus package for 2020.

#Sarah #Tew/CNET

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#Now that #President #Donald #Trump has signed the $908 billion stimulus package into law, the IRS and #Treasury #Department can start sending stimulus checks. #But the just-approved relief legislation includes much more than just another round of payments for eligible adults and children.

The new law renews some government financial assistance already starting to expire, including $300 weekly unemployment checks, an eviction ban and help for small businesses to cover payroll.

#Trump put off signing the COVID relief bill for nearly a week, calling the overall package a “disgrace” and demanding that #Congress raise the $600-per-person payments for a second stimulus check to $2,000 per person. (#President-elect #Joe #Biden has already committed to a third stimulus check. #Here’s how a new #Congress in #January could hold the key.)

“#As #President, I have told #Congress that I want far less wasteful spending and more money going to the #American people in the form of $2,000 checks per adult and $600 per child,” #Trump said in a statement #Sunday night, after signing the bill. #On #Monday following #Trump’s request for larger payments, the #House approved a bill that would boost the payments to $2,000, sending the legislation to the #Senate to consider this week.

#Now that the stimulus bill is law, we’ve laid out all the major parts that are in it. #This story has been updated with the most current information.

A second stimulus check for $600 per adult, but…

The new economic relief law will send a second stimulus check topping out at $600 to each eligible adult and a flat sum of $600 per qualifying child age 16 years and younger. #That’s a change from the cap of $1,200 per adult and $500 per child dependent, from the first round of payments.

The #House has passed an amendment that would change the amount to $2,000, and it’s now up to the #Senate to up the $600 stimulus check maximum to $2,000.

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#If it stays at lower dollar figure, individuals will receive the full $600 if their AGI is under $75,000. Their payment will start to decline as their yearly income goes up. #For heads of household, the AGI is $112,500, and for those married and filing jointly the number is $150,000. #Here’s a breakdown of the qualification requirements for the second stimulus check and some information about how much money you might be able to get.

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$300 per week in federal unemployment insurance

The CARES #Act passed in #March gave $600 per week to people who are out of work, on top of their usual state unemployment check. #When this funding lapsed at the end of #July, #President #Donald #Trump signed an executive action to pay a $300 per week bonus. #That money will run out by #Dec. 31.

The bipartisan package provides $300 per week in additional federal unemployment benefits for 11 weeks — except that the delay in signing means there are now only 10 weeks until the #March cutoff. There’s no language in the bill that would make payments retroactive. #Here are more details on weekly unemployment checks.

#Extends #Payroll #Protection #Program to cover employee wages

The #Payroll #Protection #Program initially provided forgivable loans to small businesses as a way to help cover worker wages so they wouldn’t have to lay off employees. 

The new bipartisan law will add $284 billion to the #Paycheck #Protection #Program for small business forgivable loans. The legislation will target aid for businesses especially hard hit by closures, including nonprofits, restaurants and live venues. 

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#Both sides came together to pass the new stimulus package.


#Sarah #Tew/CNET

#Renews an eviction ban, delivers some renter assistance

The CARES #Act established a nationwide ban on evictions for renters who were late on their rent. #When that was set to expire, #Trump extended the ban. #But that extension, too, was set to expire at the end of the year. The new bipartisan law extends the federal eviction moratorium through #Jan. 31, 2021.

#It will also help guard against evictions by providing $25 billion to state and local governments to help qualified renter households pay for rent and utilities. 

#According to this summary of the bill:

“#Assistance would be prioritized for renter households whose incomes do not exceed 50 percent of AMI [local area median income] as well as renter households who are currently unemployed and have been unemployed for 90 or more days. #Financial assistance provided under this section is non-taxable for households receiving such assistance.”

#Funding for health care and COVID-19 vaccinations

#With the US offering its first wave of coronavirus vaccinations, the proposals turn toward funding distribution of the COVID-19 vaccine. The bipartisan package will provide $16 billion for vaccine development and distribution, along with funding coronavirus testing and contact tracing efforts.

#Read more: #What to know about the COVID-19 vaccine’s timeline, hidden costs and more

#Money for childcare, schools and food assistance

#Funding for education has been a part of proposals for more economic assistance going back to #May. The new bipartisan law sets aside $82 billion for education and $10 billion for child care. The legislation also includes $13 billion for the #Supplemental #Nutrition #Assistance #Program (SNAP).

#State and local aid funding? #Not this time

The bipartisan law splits off $160 billion for state and local aid into another package with liability guards that has not been voted on. The intention is that #Congress could consider the two areas of conflict separately from the bill focused just on economic relief.

#Now that months of negotiations have become law, here’s what you need to know about coronavirus hardship loans, unemployment insurance and what you can do if you’ve lost your job.

#No liability protection from COVID-19 lawsuits this round

A major sticking point through the summer and fall, #Republican legislators have supported limiting COVID-19 liability to guard against lawsuits against businesses, schools, hospitals and other organizations from people who said these institutions caused them to acquire the coronavirus, except for instances of gross negligence. #Democrats have balked at the plan.

The coronavirus liability shield, along with money for state and local funding, had been broken off into a separate piece of $160 billion legislation. The final stimulus law in 2020 doesn’t include this, but that discussion could pick up again in 2021.

“#We all know the new administration is going to be asking for another package,” #Senate #Majority #Leader #Mitch #McConnell said #Dec. 15. “#We can live to fight another day on what we disagree on, but we all agree to go forward on what we can agree on. #That’s the way forward.”



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