COVID-19 Relief Law - Congress Nears New Stimulus Deal
This Wednesday, Congressional negotiators nearly reached an agreement on a $900 billion COVID-19 economic relief package that would deliver additional help to businesses, $300 per week jobless checks, and $600 stimulus payments to most Americans.
The details were still being worked out, but lawmakers in both parties said leaders had agreed on a top-line total of about $900 billion, with direct payments of $600 to individuals and a $300/week bonus federal unemployment benefit to partially replace a $600//week benefit that expired this summer. It also includes the renewal of extra weeks of state unemployment benefits for the long-term jobless. More than $300 billion in subsidies for business, including a second round of “paycheck protection” payments ("PPP") to especially hard-hit businesses, are locked in, as is $25 billion to help struggling renters with their payments and provide food aid and farm subsidies, and a $10 billion bailout for the Postal Service.
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