16 Things you Need to Know About the COVID-19 Relief Deal

You may have already heard that congressional leaders reached a deal on a nearly $900 billion COVID-19 relief package. The deal includes individual checks, loans to small businesses, and benefits to the unemployed.

According to Senate Majority Leader Mitch McConnell, R-Ky., the bill’s text must be finalized. Barring any “last-minute obstacles,” it must pass the House and Senate before President Donald Trump can sign it into law.

The New COVID-19 relief deal

  1.  Temporary (for the next 10 weeks) $300-per-week supplemental unemployment benefit – (down from $600 provided under the Coronavirus Aid, Relief and Economic Security Act passed in March).

  2. According to The New York Times, the bill also would give an additional federal benefit of $100 a week to those who earned at least $5,000 a year in self-employment income.
  3. Some people could see a lapse in their unemployment benefits because outdated state systems could slow down the distribution of aid.

  4. Most Americans will get up to $600 direct payment, and $600 per child.

  5. The COVID-19 relief Bill also includes $1,200 for couples making up to $150,000 a year.

  6. The amount of the benefit would be reduced for those who earned more than $75,000 in 2019.

  7. The agreement provides a tax credit to support employers offering paid sick leave.

  8. $25 billion is provided for direct rental assistance.

  9. The eviction moratorium has been extended.

  10. The PPP small business lending program has been extended. An additional $20 billion.

  11. Live venues will get $15 billion in grants.

  12. $82 billion in education funding.

  13. The COVID-19 relief bill doesn’t extend a freeze on payments and interest for federal student loan borrowers.

  14. It also provided $13 billion in increased benefits for the Supplemental Nutrition Assistance Program or SNAP.

  15. There is $30 billion for procurement and distribution of the vaccine.

  16. The COVID-19 Relief will put an end to surprise medical billing.

Check out the business and individual grant categories on GrantWatch for additional information.

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