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If a $ 908 billion two-tier stimulus bill passes, this is what you’d get



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Here’s what we know about the latest frontrunner incentive plan.

Sarah Tew / CNET

With just a few days left until federal unemployment benefits are increasing and no expansion protection, a twofold group of senators cooperate on emergency aid legislation COVID-19 released the details of their proposal Monday afternoon, outlining a $ 908 billion combined bill that would support the economy through the end of the year and early 2021.

The proposal actually consists of two separate bills, one of a $ 748 billion package for funding areas with the most widespread support. The other breaks down the two most tantalizing issues – state and local funding and liability protection – into a second $ 160 billion package. Neither currently contains one second stimulus control.

While the $ 748 billion bill is ready for vote, Congress leaders can also use it as a building block for a new package that could gain broad support.

“We implore our leaders on both sides, take this work, build it up in every package voted on this week,” Democratic Senator Mark Warner said at the press conference that revealed the legislation. “Let’s make sure we get him across the finish line.”

The new bill tries to strike a middle ground between Republican and Democratic positions on more emergency economic aid. The original $ 908 framework included additional funding for federal employment controls, small business loans to cover wages, and protection against expulsion but tried to tackle several controversial issues, including corporate liability protection and funding for state, local and tribal governments.

While we wait to see how the latest proposal plays out in Congress, here’s what’s on the table for 2020 and what’s left for a new Congress and government to decide next year. This story has been updated with new details.


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Will there be a second incentive payment or not?

The new $ 748 billion bipartisan bill would be one second economic stimulus check To keep the bill’s overall costs low, the bill’s supporters said. As of this summer, the cost of the first round of payments was already $ 270 billion.

Following a Dec. 8 report by the Washington Post that the Trump administration was pushing Senate Republicans to add a $ 600 check to the bill, Treasury Secretary Steven Mnuchin said he was giving House Speaker Nancy Pelosi a proposal of $ 918 billion. In his statement, Mnuchin doesn’t mention a $ 600 incentive check, but The Washington Post reported that the White House proposal included $ 600 checks for each eligible adult and child. To offset the cost of the controls, the administration’s proposal would reduce the amount of federal employment aid.

On Dec. 10, Senators Josh Hawley and Bernie Sanders said they were working together on an amendment for another round of $ 1,200 payments. “If I have anything to say about it – and I think I do – then we won’t go home on the Christmas holidays unless we make sure we take care of the millions of families in this country who are suffering,” Sanders said on the Senate floor December 11.

Refund of Federal Unemployment Benefits

The CARES Act passed in March gave $ 600 a week to unemployed workers, in addition to their usual unemployment check. When this funding expired in late July, President Donald Trump has signed an executive action to pay a bonus of $ 300 per week. Which the money will run out by December 31.

The bipartisan proposal would bring in $ 300 a week in additional federal unemployment benefits for 16 weeks. It wouldn’t make retroactive payments.

The Washington Post reported that the administrative proposal presented by Mnuchin would drastically cut federal unemployment benefits under the two-party bill in exchange for the new round of controls.

Expand the Payroll Protection Program to cover employee wages

The Payroll Protection Program initially made loans to small businesses that could be forgiven as a way to cover employees’ wages rather than lay them off.

The new two-pronged proposal would add $ 300 billion to the small business Paycheck Protection Program. The bill would aim to support businesses particularly hard hit by closures, including restaurants and live venues.

Renew an eviction ban for tenants

The CARES Act has one national ban on deportations for tenants who were late with the rent. When that was due to expire, Trump extended the ban – but that extension also expires at the end of the year.

The new bipartisan proposal would protect against evictions by making $ 25 billion available to state and local governments to pay rent and utilities. The bill would also extend an expulsion moratorium until January 31, 2021.

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Both parties are weighing up the options for a possible stimulus package.

Sarah Tew / CNET

Funding for health care and coronavirus vaccinations

With the US. the start of the first wave of coronavirus vaccines already this month, the proposals focus on financing the distribution of the vaccine.

The bipartisan proposal would raise $ 16 billion for vaccine development and distribution, along with funding coronavirus testing and track down contact efforts.

read more: What you need to know about the Timeline of the COVID-19 Vaccine, Hidden Costs, and More

Liability protection against COVID-19 lawsuits

A major sticking point during the summer and fall, Republican lawmakers have backed limiting COVID-19 liability to guard against lawsuits against businesses, schools, hospitals and other organizations from people who said these institutions were causing them the coronavirus acquired, except in cases of gross negligence. Democrats have opposed the plan.

To reach broader agreement on their bill, the bipartisan group broke the moratorium on some coronavirus-related lawsuits against organizations in a separate package, along with help for government, local and tribal funding.

Money for schools and childcare

Funding for education was part of proposals for more economic aid dating back to May. The two-pronged plan would set aside $ 82 billion for education and $ 10 billion for childcare.

State and local aid money

The bipartisan proposal would split $ 160 billion for state and local aid into the liability guard package, with the intention that Congress could consider the two conflict areas separate from the bill that focused solely on economic relief.

While we wait to see how and when negotiations shake up on current proposals, here’s what you need to know loans against coronavirus, unemployment insurance and what to do if you have lost your job.




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