Monday December 21, 2020
Congress has reached a deal on a new Stimulus Package worth $900 Billion late Monday. The new bill includes new aid for households, small business and health-care providers, as well as fund the government through September 30 2021. The bill was the first such bill passed since the first stimulus bill passed 9 months ago in March.
Most Americans are expected to receive a Stimulus check, with adults and their dependent children receiving $600 each. As with last time, dependent college students and dependent adults will lose out, not receiving anything.
Of the $900 billion, $300 billion has been earmarked the bill to add a $300 unemployment aid supplement. $25 billion has been included for rental assistance and the bill extends a moratorium on rental evictions.
Also included in the budget are additional funding for Payroll Protection Program (PPP) loans to help out small businesses, funding for small business grants, and aid for several badly hit industries including entertainment venues and airlines. Schools and colleges also receive additional funding, including the expansion of the federal Pell Grant.
Most importantly, the Stimulus bill includes funding for the rollout and distribution of COVID-19 vaccines developed by Pfizer and Moderna. Hospitals are set to receive additional funding, a lifeline as hospitals all over the United States are being crushed under large numbers of COVID-19 cases.
The bill now heads to President Trump’s desk, who is expected to sign the bill later this week. The Treasury says Stimulus checks could be sent out as soon as next week.