US Congressional leaders announced yesterday evening (Sunday 20th December 2020) that they have secured a deal for a $900 billion ‘rescue package’ to deliver much-needed relief for small businesses, unemployed Americans and health care workers while bolstering vaccine distribution.
The full details of what will be in the relief package have yet to be released. But the package is expected to include:
- Direct payment checks of up to $600 per adult and child
- Aid for struggling small businesses, including more than $284 billion for forgivable Paycheck Protection Program loans and $15 billion “in dedicated funding for live venues, independent movie theaters, and cultural institutions”
- $300 per week for enhanced unemployment insurance benefits
- $25 billion for rental assistance and an eviction moratorium extension
- $82 billion for education providers like schools and colleges, including aid to help reopen classrooms safely
- $10 billion to help with child care assistance
- $13 billion in increased Supplemental Nutrition Assistance Program and child nutrition benefits
- $7 billion to bolster broadband access to help Americans connect remotely during the pandemic
- Funding totalling several billions of dollars to support coronavirus vaccine distribution, testing and contract tracing efforts and health care workers
- A tax credit “to support employers offering paid sick leave”
If you would like to discuss your own situation and investigate how any of these new measures might affect or assist you, please call one of the team at Finch & Associates on 01275 867350 or send them a message.