That could mean that the House and Senate could narrow their focus to revamp a handful of federal programs designed to keep individuals and families afloat during the economic hardships caused by the pandemic..
A smaller bill to get the country through in the coming months could leave out a few popular proposals that the Democrats and Republicans have been advocating since May, such aswith the idea that Congress could as soon as Biden takes office .
Even then, one. Opponents suggest it may not be necessary as a is on schedule. With an effective vaccine on hand, the argument goes, people will be able to get back to work, leisure activities and life as usual, which in turn will fuel the spending that drives the economy. However, , and wider distribution by mid-2021 is still months away. Meanwhile, deaths from coronavirus are soaring, and the CDC warns the US could hit a death toll of more than 320,000 by mid-December.
A group of 127 economists this week signed an open letter (PDF) calling direct payment the “fastest, most equitable and most effective way to get families and the economy back on track.”
But what does it mean if there is one more, after months of incentives not come? We’ve looked at other benefits that a new incentive package could bring you, even without another.
More money for federal unemployment assistance
Theauthorized in March in unemployment money for the unemployed. When that program ended in July, that extended payments through the end of the year by an additional $ 300 per week, until December 31, or until the money for each state ran out. With the total number of unemployed workers claiming benefits, as high as 20 million, the government reported this month, a renewal of federal unemployment aid could directly help millions of people pay rent, food and other necessities.
Give small businesses money for employee wages
The Payroll Protection Program, also part of the CARES Act, was designed to keep workers in employment by providing forgiving loans to small businesses to pay wages. That means people who work for small businesses should be more likely to keep their jobs as their employer can get extra money to keep employees on the books.
While recent studies suggest the payroll program wasn’t as effective as it could have been – with many companies using the loans for unpaid expenses and to build savings, according to a University of Chicago study – both Republicans and Democrats have insisted on renewal. of the program aimed at the hardest hit small businesses.
Eviction protection for tenants
The CARES law covered a period of 120 days. Trump extended the moratorium until December 31. A recent US Census survey found that one in five tenants will not be caught up on their rent during the pandemic, making a lapse of protection potentially catastrophic for US households and exacerbated by a predicted rise in personal bankruptcy.
With Congress running past Thanksgiving and a December 11 deadline to approve a new federal budget, lawmakers will have to act quickly to agree to a short-term resolution before the new year.
Until then, here’s what we know about the state of, which can be and unless Congress acts before the end of the year.