COVID Relief 2020: Here’s What’s in the $900 Stimulus Bill


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Congress is set to vote on passing a $900 billion COVID aid bill that will include assistance for households and for businesses, including, according to Zero Hedge.

  • Households will receive $600 for each adult, and $600 for each dependent based on 2019 income.  It’ll phase out for individuals with adjusted gross income over $75,000, and for couples over $150,000.  This money could be received by next week.
  •  Workers could be eligible for a $300 a week federal unemployment subsidy.  
  • The bill will provide $25 billion worth of assistance to tenants in arrears on rent. The bill will also extend federal eviction prohibition until the end of Jan. 2021.
  • The bill includes $9 billion for healthcare providers, and $4.5 billion for mental health.
  • Schools will receive $82 billion.  Of that, $54.3 billion will be for public schools.
  • The bill will provide $15 billion to cover airline salaries and benefits through March
  • The bill will provide $12 billion to support small lenders focused on low income and minority communities.
  • Entertainment venues will receive up to $15 billion.
  • The bill will direct $13 billion to crop farmers, cattle ranchers.
  • The bill will provide $1 billion of relief to Amtrak to help the railroad avoid layoffs and furloughs of employees.
  • The bill will provide $325 billion to help small businesses.
  •  The bill will provide $10 billion to the US Postal Service.

With regards to vaccines, “States and federal agencies would receive funding for vaccine distribution. About $20 billion would go to the Biomedical Advanced Research and Development Authority, or BARDA, for procuring vaccines and therapeutics. Nearly $9 billion would go to the Centers for Disease Control and Prevention and states for further distribution of the vaccine, and $3 billion is designated for the national stockpile.”

 

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